The proposed fundKnown as the Goldman Sachs Innovative DeFi and Blockchain Stock ETF, it is committed to tracking the decentralized financial and blockchain indexes of Solactive, a German financial index provider.
The fund invests at least 80% of its assets in securities, stocks and depositary receipts in the index.
The document stated that the index aims to provide exposure to companies that meet two key narratives: “implementation of blockchain technology” and “financial digitization.”
As of July 23, the top stocks included in Solactive decentralized finance index Including Nokia, Facebook, Google, Accenture and Fujitsu-each accounted for approximately 6% to 7% of the index.
Companies such as PayPal, Microsoft, Visa, and Overstock have a small share of the index. Solactive also tracks China’s Alibaba, Tencent, and Baidu among the 20 assets in its DeFi index.
Fans of crypto-native DeFi index products may be disappointed by the method of supporting the Solactive index, which requires a company to be listed on a regulated stock exchange with a market value of more than $500 million and an average daily trading volume of at least the past six months 500 million U.S. dollars.
Solactive’s index is recalculated and rebalanced quarterly on the third Friday of every February, May, August and November.
As Goldman Sachs submitted its documents, institutions are increasingly focusing on the DeFi field. Leading crypto asset management company Grayscale announced plans to launch a Decentralized financial fund last week.
Grayscale’s DeFi Fund will give institutions access to “blue chip” tokens in the DeFi field, including governance tokens from leading protocols such as Uniswap and Aave.
The top DeFi currency market, Aave, is also seeking to target institutional capital, launching Institutional License Pool Earlier this month.
Large investment banks, Goldman Sachs, Has submitted an application for an exchange-traded fund (ETF) to the US Securities and Exchange Commission, which provides exposure to listed companies related to the decentralized financial sector.