It’s been reported that Goldman Sachs is getting ready to offer clients exposure to an ETF that’s invested in the crypto industry.
In a brand new filing with the US SEC, the Wall Street giant said that it plans to offer a note that is tied to the performance of ARK Innovation ETF. This is an actively managed ETF that is investing at least 65% of its assets in companies that are in an industry that aligns with the investment theme of disruptive innovation.
The fund is invested in the Grayscale Bitcoin Investment Trust – this 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…” according to official notes.
“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 same notes explain.
The filing comes as Goldman Sachs clients increasingly demand exposure to Bitcoin.
Serena Williams invests $5 million in Bitcoin rewards startup Lolli
It seems that Bitcoin and crypto get more and more popularity with each passing day. More important names are hopping in the BTC wagon these days, and the most recent one is Serena Williams.
The tennis pro is investing in Lolli, which you may already know is a rewards app that allows people to earn Bitcoin when they are shopping online.
According to the latest reports, the startup said that it raised $5 million in pre-Series A funding round with Williams’ investment firm Serena Ventures and her husband Alexis Ohanian’s venture capital fund Seven Seven Six being the leaders of investors.