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Goldman Sachs File for ETF With Bitcoin Option

Goldman Sachs File for ETF With Bitcoin Option
  • Goldman Sachs has applied for approval for a new Exchange Tradable Fund (ETF) with an option to add Bitcoin.
  • However, the financial product is said to be a Autocallable Contingent Coupon ETF-Linked Notes maturing on March 26, 2026.
  • The fund’s primary investment tactic considers companies to rely on and profit from products under development.

According to a document filed with the U.S. Securities and Exchange Commission (SEC), Goldman Sachs has applied for approval for a new Exchange Tradable Fund (ETF). Notably, the ETF has an option to add Bitcoin.

Also, the ETF has an ARK innovation structure and a March 19, 2021 filing date. The financial product declares itself as an Autocallable Contingent Coupon ETF-Linked Note. Further, the ETF will mature on March 26, 2026.

In fact, the outcome proposed by Goldman Sachs states:

The ETF is an actively managed exchange-traded fund that will invest under normal circumstances primarily (at least 65% of its assets) in domestic and foreign equity securities of companies that are related to the ETF’s investment theme of disruptive innovation.

Also, the fund’s primary investment tactic considers companies that rely on and profit from products under development. However, these companies may belong to various sectors like energy, transportation, genomics, or scientific research.

Of note, a few days ago, rival bank Morgan Stanley announced that it will start exposing its clients to Bitcoin. Thus, Morgan Stanley clients will soon have access to three BTC funds including one with crypto firm Galaxy Digital. However, the bank specified that interested investors should have no less than $5 million in their account.

Finally, at the time of writing, Bitcoin price is at $54,257 and records a mild loss of 3.3% on today’s charts.

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A Computer Engineering graduate who writes news focuses on cryptocurrency-related and blockchain technology. He is enjoying using his skills to contribute to informing people of the exciting technological advances that happen every day.