Goldman Sachs filed with the SEC to launch a "blockchain and Defi ETF" that doesn't actually include any blockchain or Defi companies. The fund plans to invest at least 80% of its capital into the Solactive Decentralized Finance and Blockchain Index securities.
*Securities included in the Solactive index
- The above photo shows that the index largely contains large-cap equities such as Facebook and Alphabet. The index even leaves out public companies that hold bitcoin on their balance sheets, such as Microstrategy, Tesla, and Coinbase.
- The filing followed a survey of 150 family offices published by Goldman last week that revealed ~50% were considering initiating cryptocurrency exposure in the future.
- The SEC is currently reviewing over a dozen Bitcoin ETFs in addition to others dealing with Ethereum.
- Goldman is rumored to be settling cryptocurrency exchange-traded products for some select European hedge fund clients.