Goldman's Asset Management Unit Files With SEC to Offer Crypto ETF

Goldman Sachs’ (NYSE: GS) asset-management unit has filed with the U.S. Securities and Exchange Commission (SEC) to offer a crypto-related exchange-traded fund (ETF).

According to the filing submitted Monday, the bank intends to offer The Goldman Sachs Innovate DeFi and Blockchain Equity ETF “as soon as practicable after the effective date of the Registration Statement.”

The ETF is designed to track the Solactive Decentralized Finance and Blockchain Index. The filing also notes the ETF is seeking to invest at least 80% of its assets in securities, depositary receipts, and stocks of companies that are a part of the index.

Major institutional investors are racing to have a Bitcoin ETF accepted by the SEC. Goldman Sachs is likely trying to meet the demand for crypto exposure, which is also evident ​​after the bank restarted its crypto trading desk earlier this year.

Last month, GS said it is looking to offer options and futures trading in Ethereum (ETH), the world’s second-largest digital asset.

In the meantime, BTC/USD price is trading just above the $38,000 handle.

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