Home Cryptocurrency Investment Bank Goldman Sachs Focuses on DeFi ETFs

Investment Bank Goldman Sachs Focuses on DeFi ETFs

by Serge Shlykov

Goldman Sachs has been one of the most influential banks in the world for centuries, and now they are looking to expand their reach by investing in cryptocurrencies.

Goldman Sachs has released a report that focuses on DeFi ETFs. This is the first time that an investment bank has focused on this type of crypto-related product. Read more in detail here: defi crypto stock.

Goldman Sachs is a large investment bank and financial services company that specializes in asset management, securities, and investment management. The investment bank has recently focused on DeFi and Ethereum.

According to the SEC, the company has applied for a DeFi ETF tied to public firms in the industry. ETFs may hold a wide range of assets, including stocks, commodities, bonds, or a mix of these. “Goldman Sachs Innovate DeFi and Blockchain Equity ETF” is the name of the deployed fund.

The Goldman Sachs Innovate DeFi and Blockchain Equity ETF, according to the firm, is more conventional than crypto ETFs. Furthermore, it will expose investors to companies that are “connected with the themes” of blockchain technology and “financial digitization.”

Goldman Sachs’ plan may have a greater chance of succeeding since it is tied to corporate equities rather than crypto assets. Investors and the Securities and Exchange Commission, on the other hand, aren’t sure what’s in it yet. The business only supplied a limited amount of information.

The bank applied for financing on Defi, and the fund would follow “the performance of the Solactive Decentralized Finance and Blockchain Index,” according to the business. However, the German index fund company’s website does not mention such an ETF. 

Confusion about the term “DeFi”

Goldman Sachs seems to be a little puzzled by the concept of ‘DeFi’, as easy as it appears. Only legacy businesses are included in the list of “DeFi” funds, and even one of them does not meet the definition of a blockchain or defi company.

Only legacy businesses are included in Goldman Sachs’ “DeFi” Fund, which includes no crypto-native enterprises.

They’re attempting to mislead the public into believing that decentralized finance already exists.

Fix the money, and the world will be fixed.

pic.twitter.com/9b22kh2Qdw (h/t @hfangca )

July 27, 2021 — Charlie Shrem (@CharlieShrem)

The top three companies on the list were Nokia, Facebook, and Google’s Alphabet. Visa, Mastercard, and PayPal, the payment giants, were all included on the list of stocks monitored. Microsoft, Intel, and IBM were on the opposite side, as were Chinese e-commerce and telecommunications heavyweights Baidu, Alibaba, and Tencent.

Goldman Sachs experts predicted that Ethereum will overtake Bitcoin in the near future earlier this month. Ethereum will be the crypto industry’s store of value, according to the company. Furthermore, the company has shifted its focus to ‘DeFi,’ with the goal of generating future profits. 

Many entities have been engaged in DeFi, with many jumping in after deciding that Defi was the market of the future. Defi has also piqued the attention of Goldman Sachs.

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Frequently Asked Questions

Is there a DeFi ETF?

Yes, there is a DeFi ETF.

Does Goldman Sachs have ETFs?

 

What are DeFi products?

DeFi is a term used to describe decentralized financial products.

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