Institutional Interest in DeFi Rises – Goldman Sachs Plans DeFi ETF
The rising popularity of DeFi appears to have not gone unnoticed by institutional investors. Leading investment bank Goldman Sachs has filed an application with the US SEC seeking approval to launch an ETF which would offer exposure to global public companies in the DeFi and blockchain space.
According to the filing, Goldman Sachs’ latest DeFi based ETF would invest a minimum of 80% of assets in companies working on developing applications for blockchain technology and digitalizing finance. The fund would focus on key markets across Europe, Asia Pacific as well as the US.
The news comes close on the heels of another leading investment firm Grayscale announcing its plans to launch a DeFi Fund and index last week. According to the company’s CEO, the fund would provide exposure for its institutional clients towards popular DeFi assets, including Uniswap and Aave.
However, these plans are likely to face quite the regulatory roadblock, especially as the SEC is yet to approve more than a dozen Bitcoin ETFs filed so far. Waiting for approval are also Ethereum ETFs filed by VanEck and WisdomTree, even as the latter already faces some resistance from the Commission that has asked for public feedback on WisdomTree’s Bitcoin ETF.
Earlier this month, leading DeFi protocol Aave also made its move towards attracting institutional investors with the launch of Aave Pro – an institutional lending platform. Aave Pro will offer a way for institutions, corporate and fintech firms to access the world of DeFi
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