Goldman Sachs continues to deploy in the encryption field, applying to the US SEC to launch DeFi and blockchain stock ETFs

This article comes fromDecrypt, original author: Jeff Benson

Odaily Translator | Nian Yin Si Tang

This article comes from

, original author: Jeff Benson

Odaily Translator | Nian Yin Si Tang

Investment banking giant Goldman Sachs has increasingly favored Ethereum and decentralized finance (DeFi) in recent months.According to a filing with the U.S. Securities and Exchange Commission (SEC) today, Goldman Sachs is preparing to launch an exchange-traded fund (ETF) with ties to companies in the industry called the "Goldman Sachs Innovate DeFi and Blockchain Equity ETF." DeFi and blockchain stock ETFs)".The firm said the ETF will provide investors with exposure to companies that are “consistent” with the themes of blockchain technology and the “digitalization of finance.”

An ETF is an investment product that tracks an asset or group of assets and can be traded on a traditional exchange like a stock. Although the US SEC

backlog

There have been numerous applications for bitcoin ETFs, but the regulator has yet to approve such funds.

Goldman’s latest application, which is related to company stocks rather than focusing on crypto assets, may be more likely to be approved, although neither investors nor the SEC yet know what it contains.It is understood that Solactive's "Blockchain Technology Performance (Blockchain Technology Performance)" index includes heavyweight companies such as Nokia, Facebook, Google's parent company Alphabet, MasterCard and Paypal. While some of these companies have crypto "ambitions" in mind or have related projects, such as Facebook and Paypal, their exposure to blockchain is nowhere near that of companies like Microstrategy or Square. In addition, their acceptance of DeFi is also questionable.That hasn't stopped Goldman Sachs from actually investing in the industry, however. In June of this year, BlockDaemon, a blockchain infrastructure service provider focused on node management, completed a US$28 million Series A financing, led by Greenspring Associates, and Goldman Sachs was one of the participating investors. Furthermore, Goldman Sachs revealed later that month,

Plans to expand its client-facing cryptocurrency offering with Ethereum options and futuresexpress. Mathew McDermott, head of digital assets at Goldman Sachs, said the move is expected to happen "in the coming months." According to reports, Goldman Sachs appears to be eyeing other investments in the crypto space as well. Goldman Sachs is looking at many different companies that fit its strategic direction, McDermott said.

expressThe report showsOf course, getting involved in the encryption field is not a whim for traditional investment banks like Goldman Sachs. A recent Goldman SachsdiscloseThe report shows