Goldman Sachs to launch DeFi-based ETF

Goldman Sachs is ready to get its piece of the pie, capitalizing on the fast-growing interest in blockchain and cryptocurrencies.
One of the world’s investment giants applied to the SEC (Security and Exchange Commission), asking for a license to run the first US DeFi-based ETF. According to the bank, the future ETF will invest at least 80% of overall assets under management into blockchain- and DeFi-related projects.
The fund will invest in shares of projects originating from the USA, the United Kingdom, Canada, and 8 more crypto-friendly countries.
Goldman Sachs understands the growing perspectives of digital currencies, wishing to become the pioneer while talking about major players. The bank’s report highlights that 60% of family offices globally are interested in cryptocurrencies, and Goldman Sachs makes digital assets more accessible for hedge funds.
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While talking about crypto-related ETFs, the boom is about to start. The USA is not a friendly jurisdiction to run funds based on digital assets. DeFi and blockchain projects are somehow playing on the other field; this is why the Goldman Sachs initiative has big chances to succeed.
In the meantime, Canada and Brazil host ETFs based on Bitcoin and Ethereum, pretending to get a jumpstart on the crypto market.
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