Goldman Sachs Files For An ETF Capable Of Investing In Bitcoin

Goldman Sachs Files For An ETF Capable Of Investing In Bitcoin

Goldman Sachs has filed details with the U.S. Securities Exchange And Commission (SEC) regarding an exchange-traded fund (ETF) capable of investing in bitcoin.

“The ETF is an actively-managed exchange-traded fund that will invest under normal circumstances primarily (at least 65% of its assets) in domestic and foreign equity securities of companies that are relevant to the ETF’s investment theme of disruptive innovation,” according to the filing.

The disruptive innovation line hints at what may be a potential investment in technology like Bitcoin as the filing continues: “The ETF may have exposure to cryptocurrency, such as bitcoin, indirectly through an investment in a grantor trust. The ETF’s exposure to cryptocurrency may change over time and, accordingly, such exposure may not always be represented in the ETF’s portfolio.”

Although the filing does not indicate that bitcoin will be the primary investment content of the ETF, nor that the ETF is giving investors direct exposure to bitcoin, it is becoming increasingly apparent that bitcoin is considered an investment-grade asset. As large institutions like Goldman Sachs include bitcoin in their financial endeavors, traditional financial figures’ perception of bitcoin changes.

The filing also describes that companies otherwise involved in the “Fintech Innovation” industry may be components of the ETF. This too, potentially serves to bolster bitcoin’s place in the traditional finance world, as companies in the industry become major investment opportunities. 

Published at Wed, 24 Mar 2021 16:31:35 +0000

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