Goldman Sachs is gearing up to offer its clients exposure to an exchange-traded fund (ETF) that’s invested in the cryptocurrency industry.
In a new filing with the U.S. Securities Exchange and Commission (SEC), the Wall Street giant says it intends to offer a note that’s tied to the performance of the ARK Innovation ETF, an actively managed ETF that invests at least 65% of its assets in companies whose industry aligns with the investment theme of disruptive innovation.
The fund is invested in the Grayscale Bitcoin Investment Trust, which offers institutional investors a simple and legally-compliant way to gain access to Bitcoin and the altcoin markets.
“Companies that the ETF investment advisor believes are focused on and expected to benefit from the shifting of the financial sector and economic transactions to technology infrastructure platforms, and technological intermediaries…
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.”
The filing comes as Goldman Sachs clients increasingly demand exposure to Bitcoin.
Earlier this month, the firm’s president and chief operating officer John Waldron said that the bank is evaluating how to own and invest in BTC amid rising interest in the top crypto.
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Anna Berdnik/Yevhen Vitte/greenbutterfly