latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Goldman Sachs Applies for Bitcoin-Related Investment Product

Goldman Sachs Applies for Bitcoin-Related Investment Product
Goldman Sachs, one of the world’s biggest banks, has filed an application to the US Securities and Exchange Commission for an investment product that could expose clients—indirectly—to Bitcoin . 
The SEC filing , which details a “linked note” (an income-producing product tied to a security or basket or securities, like an ETF), says that investors could be exposed to “disruptive innovation.” 
As the linked note tracks ARK Innovation , an exchange-traded fund (ETF) that is invested in the Grayscale Bitcoin Investment Trust Grayscale, investors could be exposed to the biggest digital asset—but not directly.  
For those who don’t know: an ETF allows investors to buy and sell shares continually throughout the day that represent the value of an underlying asset. 
A Bitcoin ETF , which would allow investors to buy shares that represent the digital asset, doesn’t exist in the US—yet. Plenty of companies have tried to launch one, including investment giant Fidelity , which just filed its application today. The SEC has been reluctant to approve these products in the past, however, citing concerns over manipulation of the Bitcoin market.
But Bitcoin ETFs do exist elsewhere—in Canada (where they’ve been a huge success ) and Bermuda . 
As Tesla Shareholders, JP Morgan and Goldman Sachs Are Now Exposed to Bitcoin
Goldman's filing, dated March 19, isn’t for an ETF, but a product that would track an ETF exposed to Bitcoin shares. 
And it’s another way Goldman Sachs is showing interest in Bitcoin. 
The bank was previously skeptical about the coin. Last year, it denied Bitcoin was an asset class. But it has since said it will start trading Bitcoin futures, reopening its cryptocurrency trading desk after abruptly shutting it down in 2018.

Bloomberg ETF analyst, Eric BalchunasIt, told Decrypt that Goldman’s new Bitcoin-linked product is “like a side bet for its bigger institutional clients.” 
“It has all kinds of different parts to the bet but it all involves riffing off the price of ARKK, hence the word ‘ETF’ in there,” he said. 

Goldman out with an $ARKK structured note, must be real demand for these..
— Eric Balchunas (@EricBalchunas) March 24, 2021

As the SEC filing says: “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.”
Goldman Sachs did not immediately respond to Decrypt 's request for comment. shares this Contents always with License.

Thank you for Share!



Cool to know huh? Read the full Article

Cool huh? Please read the full Article: Goldman Sachs Applies for Bitcoin-Related Investment Product

Search about Crypto News


The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed simple and intuitive, usable by all Devices, fast and effective.


Today Most Popular News