Major U.S. investment bank Goldman Sachs has filed a prospectus with the U.S. Securities and exchange Commission (SEC) for an exchange-traded fund (ETF) that could offer exposure to bitcoin and other cryptocurrencies.
In a recent document filing, Goldman Sachs is seeking approval from the SEC to launch an ETF called the ARK Innovation ETF.
According to the banking giant, the ETF would focus on companies that offer what it considers “disruptive innovation” while stating that it could offer exposure to bitcoin.
An excerpt from the filing reads:
“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.”
As previously reported by CryptoPotato, Goldman Sachs stated that it was considering launching a bitcoin ETF along with offering crypto custodial services.
Also, asset management behemoth Fidelity Investments filed a document with the SEC to launch a Bitcoin ETF. The ETF known as Wise Origin Bitcoin Trust would “week to track the performance of bitcoin, as measured by the Index, adjusted for the Trust’s expenses and other liabilities.”
Goldman Sachs and Fidelity Investments become the latest institutions to propose a bitcoin-related ETF with the U.S. regulator. While the SEC is yet to approve any application, the watchdog is currently reviewing VanEck’s Bitcoin ETF proposal.
Meanwhile, countries like Canada and Brazil already have Bitcoin ETFs. Canadian regulators …
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