Goldman Files for DeFi-focused ETF
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July 27, 2021

Goldman Sachs has filed with the US Securities and Exchange Commission for a decentralized finance (DeFi) exchange traded fund (ETF).

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According to a regulatory filing, the ETF will be called the Goldman Sachs Innovate DeFi and Blockchain Equity ETF. The fund is passively-managed and seeks to track a specified index: the Solactive Decentralized Finance and Blockchain Index. However, it remains unclear which companies will be tracked by the index.

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The ETF basket may also include common stocks, preferred stocks, interests in real estate investment trusts, and convertible debt obligations. Goldman plans to invest in companies listed on the stock exchanges of Australia, Canada, France, Germany, Hong Kong, Japan, South Korea, Switzerland, the Netherlands, the United Kingdom, and the United States.

The move comes after analysts at the investment bank said that cryptocurrencies have no long-term value and are not an asset class. A recent study from the bank's investment strategists group has shared a skeptical assessment of cryptocurrencies.

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