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Goldman Sachs applies for a DeFi, blockchain ETF

Wall Street's interest in crypto markets is growing.

Bitcoin

Goldman Sachs filed an application for a DeFi, blockchain ETF

Image: Andre Francois McKenzie / Protocol

Goldman Sachs on Monday filed an application with the Securities and Exchange Commission for a "DeFi and Blockchain Equity" exchange-traded fund.

The move is another sign of Wall Street's growing interest in the blockchain and crypto markets. Goldman reportedly has also begun clearing crypto exchange-traded products in Europe.

In its SEC application, Goldman Sachs acknowledged the risks associated with crypto and blockchain, saying "blockchain technologies are new and developing and the risks associated with such technologies may not fully emerge until they are widely used."

The SEC has repeatedly delayed approvals for bitcoin and other crypto-related ETFs, which would allow investors to invest, speculate and hedge exposure to cryptocurrencies without directly holding them.

 Benjamin Pimentel

Benjamin Pimentel ( @benpimentel) covers crypto and fintech from San Francisco. He has reported on many of the biggest tech stories over the past 20 years for the San Francisco Chronicle, Dow Jones MarketWatch and Business Insider, from the dot-com crash, the rise of cloud computing, social networking and AI to the impact of the Great Recession and the COVID crisis on Silicon Valley and beyond. He can be reached at bpimentel@protocol.com or via Google Voice at (925) 307-9342.

sec etf goldman sachs cryptocurrencies
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