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It is unclear what is in Solactive's Decentralized Finance and Blockchain Index, which underpins the new fund. The US bank's filing comes soon after it reported that 60% of super-rich family offices own crypto.
The new fund would invest at least 80% of its assets in stocks, securities and depositary receipts included on the underlying index, Goldman Sachs said. ETFs are products that track the performance of another index or asset, and whose shares trade just like those in a company. "The index is designed to deliver exposure to companies that are aligned with two key themes, the implementation of blockchain technology and the digitalization of finance," it said in its filing. The bank said in its SEC filing that the proposed ETF would not be "not sponsored, promoted, sold or supported in any other manner by Solactive AG."
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