Goldman Sachs files to launch DeFi- and blockchain-focused ETF

Investment bank Goldman Sachs filed with the SEC to launch an exchange-traded fund (ETF), the basket of which will include shares of public companies in the DeFi and blockchain space.

According to the filing, the ETF will invest at least 80% of its assets in blockchain-focused and DeFi sector projects.

“The Goldman Sachs Innovate DeFi and Blockchain Equity ETF seeks to deliver investment results, before fees and expenses, that closely track the Solactive Decentralized Finance and Blockchain Index,” the filing states.

It is unknown which specific companies the index tracks. An instrument by that name not listed in Solactive’s product lineup.

“The index is designed to provide data on companies that meet two key themes: blockchain technology adoption and digitization of finance,” the document states.

The ETF’s basket will include “common stocks, including depositary receipts, of companies located on developed and developing markets worldwide.” Goldman Sachs will invest in securities listed on stock exchanges in Australia, Canada, France, Germany, Hong Kong, Japan, South Korea, Switzerland, the Netherlands, the United Kingdom and the United States.

According to Goldman Sachs’ survey, 60% of family offices worldwide are interested in cryptocurrencies, and 15% are already investing in digital assets.

Earlier, the bank provided some European hedge funds access to cryptocurrency-based exchange-traded products, according to CoinDesk. The firm plans to extend the service to more clients.

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