Goldman Sachs Asset Management Files for Crypto-Linked ETF
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Goldman Sachs continues ramping up its crypto-related efforts with the latest filing for an exchange-traded fund that will track related companies.
Goldman Sachs’s asset management unit filed for an application with the U.S. Securities and Exchange Commission to offer an exchange-traded fund (ETF) focused on crypto-related companies.
The Goldman Sachs Innovate DeFi and Blockchain Equity ETF will track the Solactive Decentralized Finance and Blockchain Index, according to the filing which is seeking approval as soon as practicable after the effective date of the Registration Statement».
Goldman Sachs has been increasingly expanding its cryptocurrency offering in recent months.
The bank reportedly restarted its crypto trading desk in March to deal bitcoin futures and non-deliverable forwards to support clients like hedge funds. And in June, it also announced plans to offer options and futures trading in ether – the second-largest cryptocurrency behind bitcoin.
Goldman Sachs is not the lone Wall Street giant eyeing crypto opportunities with U.S. rivals J.P. Morgan recently opening access for its wealth clients to five related funds and BNY Mellon joining a crypto consortium that includes State Street and six unnamed banks.
Questions & Answers
Q.What is the name of the new ETF Goldman Sachs has filed for?
What is the name of the new ETF Goldman Sachs has filed for?
The new ETF Goldman Sachs has filed for is called the Goldman Sachs Innovate DeFi and Blockchain Equity ETF. It aims to track the Solactive Decentralized Finance and Blockchain Index.
Q.Which specific financial regulator will consider Goldman Sachs' ETF application?
Which specific financial regulator will consider Goldman Sachs' ETF application?
The application for the exchange-traded fund has been filed with the U.S. Securities and Exchange Commission. Approval is sought as soon as practicable after the Registration Statement's effective date.
Q.Are other major financial institutions also exploring cryptocurrency opportunities?
Are other major financial institutions also exploring cryptocurrency opportunities?
Yes, other Wall Street giants are eyeing crypto opportunities. J.P. Morgan recently gave its wealth clients access to five related funds, and BNY Mellon joined a crypto consortium including State Street.
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