Goldman Sachs submits a proposal for a DeFi ETF

The planned crypto ETFs are more standard than the Goldman Sachs Innovate DeFi and Blockchain Equity ETF.

In recent months, Goldman Sachs has been more interested in Ethereum and decentralised finance (DeFi).

It’s ready to launch an exchange-traded fund (ETF) connected to companies in the industry, according to a filing with the Securities and Exchange Commission (SEC) today.

Via currencymarket24.com

According to Goldman Sachs, the Innovate DeFi and Blockchain Equity ETF will give investors exposure to companies that are “aligned with the themes” of blockchain technology and “digitalization of finance.”

The fund will be designed to track “the performance of the Solactive Decentralized Finance and Blockchain Index,” according to Goldman. However, the German index fund company’s website does not list such an ETF.

Solactive’s Blockchain Technology Performance Index, on the other hand, includes huge hitters like Nokia, Facebook, Alphabet, Mastercard, and Paypal.

While several of these companies, such as Facebook and Paypal, have crypto ambitions or projects, their exposure to blockchain isn’t as extensive as, say, Microstrategy or Square.

Furthermore, their support for DeFi—which eliminates middlemen like huge financial institutions and enterprises from banking, lending, and trading is dubious.

What the microblogging site has to say?

Another twitter user roughly stated that “Goldman Sachs wants to get more rich that’s why investing in cryptos”

This hasn’t stopped Goldman Sachs from investing in the industry. In June, it participated in a $28 million funding round for Blockdaemon, a blockchain infrastructure company.

It announced plans to launch trading for Ethereum options in the following months later that month.

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