Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
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 ādisruptive innovationā while stating that it could offer exposure to bitcoin.
- An excerpt from the filing reads:
āThe ETF may have exposure to cryptocurrency, such as bitcoin, indirectly through an investment in a grantor trust. The ETFās exposure to cryptocurrency may change over time and, accordingly, such exposure may not always be represented in the ETFās portfolio.ā
- 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 āweek to track the performance of bitcoin, as measured by the Index, adjusted for the Trustās expenses and other liabilities.ā
- 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 VanEckās Bitcoin ETF proposal.
- Meanwhile, countries like Canada and Brazil already have Bitcoin ETFs. Canadian regulators gave the green light to North Americaās first Bitcoin ETF back in February 2021 and has gone ahead to approve two more ETFs. Brazilian regulators also approved Latin Americaās first Bitcoin ETF earlier in March.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.