Goldman Sachs plans to launch crypto-ETF

Asset management arm of Goldman Sachs Inc group plans to launch a crypto related ETF. They filed their prospects to get approval from the U.S. Securities and Exchange Commission on Monday.

Goldman Sachs group is ready to dive in DeFi and Blockchain Equity ETF through their new project. They have full belief in the future of DeFi and they are ready to give exposure to Decentralized finance through their “Crypto Exchange Trade Fund”. Their DeFi and Blockchain Equity ETF will follow the Solactive Decentralized Finance and Blockchain Index. 

According to Their plans of prospect, they will secure 80% of its assets in securities, depositary receipts, and stocks of firms in the form of collateral to the securities. 

The plan of Goldman Sachs group in Defi & Blockchain crypto ETF seems influenced from the recent activities of many big companies which are entering in ETF & Defi Blockchain exposure based projects. 

We can see examples of Grayscale which planned to go GBTC to Bitcoin ETF. Secondly Robinhood firm is ready to go in public through their IPO. Also Thailand’s Siam Commercial Bank is ready to dive in DeFi and also they want to integrate their mutual fund scheme in Exchange Traded Fund through the futures trading which are under SEC’s review. Also Kraken and FTX crypto exchanges are going public to give a Investment portal. 

Read also: Chances To Approve WisdomTree Bitcoin ETF This Year?

In the present time, many big firms believe that Defi Blockchain has a better future and also we can see that Defi based projects are really getting huge Investment day by day. Also the data on Defi pulse shows that total fund of buy/sell/lending in Defi project is reached to around $64.5 billion, which is clear indication that how people & project have hope with DeFi projects.

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