Goldman Sachs submits DeFi-related ETF application to the US SEC, the fund is named "Goldman Sachs Innovative DeFi and Blockchain Equity ETF"

According to a public document, investment banking giant Goldman Sachs has submitted an application to the U.S. Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF), called the Goldman Sachs Innovate DeFi and Blockchain Equity ETF. The fund will provide exposure to listed companies in global decentralized finance and blockchain.

The document contains few details, but states that the fund will invest at least 80% of its assets in companies that advance blockchain technology and financial digitization. Eligible stocks include common equity securities of companies located in developed and emerging markets around the world, listed and traded on major exchanges in certain developed markets, including: Australia, Canada, France, Germany, Hong Kong, Japan, South Korea, Switzerland, the Netherlands, the United Kingdom and the United States.

The SEC is currently reviewing more than a dozen crypto ETF applications and has delayed decisions on several of them. Vaneck and WisdomTree have both applied for Ethereum ETFs, but Goldman Sachs' application appears to be the first DeFi-related ETF application.

BitPush reported last week that Goldman Sachs is clearing and settling crypto ETPs for some hedge fund clients in Europe.

According to the filing, the fund “seeks investment results that closely correspond to the performance of the Solactive Decentralized Finance and Blockchain Index.” Solactive maintains a range of cryptocurrency and blockchain-related indices.

The index aims to provide exposure to companies aligned with two key themes: the implementation of blockchain technology and the digitization of finance, the document said.

According to the filing, Goldman Sachs uses the term “DeFi” in relation to “digitalization of finance,” “defined as the digital transformation of traditional financial services, including the support and delivery of payments, transaction services, lending, and insurance.”

The document suggests that Goldman is looking for different ways to tap into demand for crypto in various forms. Earlier this month, Goldman Sachs released the results of a survey that found that 15% of family offices surveyed invested in cryptocurrencies.