Goldman Sachs, one of the world’s largest investment banks, has applied to the US Securities and Exchange Commission for permission to offer an exchange-traded fund (ETF) for DeFi-related products.
to the Report In recent months, Goldman Sachs Investment Bank has been interested in Ethereum and decentralized finance.
According to a file released today by the US Securities and Exchange Commission, Goldman Sachs is preparing to offer a stock exchange-traded fund to companies focused on decentralized finance.
Goldman Sachs says the bank’s innovation in offering tradable fund shares on Blockchain and Defy companies will allow investors to invest in companies operating in the field of Blockchain Technology and Financial Digitization. .
An exchange traded fund is an investment product that includes an asset or set of assets and can be traded like shares in various brokerages. While the US Securities and Exchange Commission is facing a wave of unresolved requests to offer tradable funds on the Bitcoin exchange, US lawmakers have not yet approved the licensing of such funds. A Bitcoin exchange traded fund allows investors to access Bitcoin without having to personally store their digital currency safely.
Although investors and the US Securities and Exchange Commission are not yet aware of the contents of the Goldman Sachs tradable fund, since the scheme is more about corporate stocks than digital currencies, it may be compared to bits traded on the Beat Exchange. Coin has a better chance of getting an activity license.
Goldman Sachs says the fund will perform similarly to China’s blockchain index and decentralized solo finance. However, the German company has not listed a box with these specifications on its website.
The active fund-based investment fund called “Blockchain Technology Performance” includes shares of large companies such as Nokia, Facebook, Google’s owner Alphabet, MasterCard and PayPal. Although some of these companies, such as Facebook and PayPal, have plans or projects related to digital currencies, their activities in the Blockchain are not large enough to be compared to microstructure or squares.
In addition, there does not appear to be a link between their activities and decentralized finance. It is worth noting that defa eliminates the intermediation of financial institutions and large corporations from processes such as banking, lending and trading.
This has not stopped Goldman Sachs from investing in this field. The global investment giant invested $ 28 million in June in the initial financing phase of a Blockchain company called Blockdaemon. Late that month, Goldman Sachs announced plans to allow Ethereum Options to trade in a few months.