Goldman Sachs (NYSE:GS) Group Inc has filed an application with US regulators for an exchange-traded fund (ETF) focused on decentralised finance (DeFi) and blockchain technologies.
The filing to the Securities and Exchange Commission on Monday, while light on detail, said that the new ETF will aim to provide exposure to companies that are aligned with “the implementation of Blockchain Technology and the Digitalization of Finance” and will have at least 80% of its assets invested in these areas.
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It added that it will aim to provide results corresponding with the Solactive Decentralized Finance and Blockchain Index and will choose investments from markets in jurisdictions including Australia, Canada, France, Germany, Hong Kong, Japan, South Korea, Switzerland, the Netherlands, the UK and the US.
The application will join a stack of over a dozen blockchain and cryptocurrency related ETFs currently under review by the SEC, many of whom have been repeatedly delayed as regulators seek to clarify their rules around the rapidly expanding sector.
Shares in Goldman were 0.4% lower at US$374.43 in pre-market trading in New York on Tuesday.