Confusion is the name of the game after financial heavyweight Goldman Sachs announced its intentions to launch an exchange-traded fund (ETF) that tracks public firms with links to the blockchain-related sphere. The proposed ETF is set to track an index – but its composition (and the firm’s definition of DeFi) has seen much derision aimed its way, amid no shortage of headache-inspiring uncertainty. (Updated with further comment from Solactive and other updates throughout on July 27 at 15:07 UTC.)
The drama began yesterday when Goldman Sachs filed an application with the American Securities and Exchange Commission (SEC). The filing did not go into specifics on the kind of firms it would track, instead detailing that the fund’s managers would invest at least 80% of its assets into companies that advance blockchain technology and the "digitization of finance."
However, it did include details about how the ETF will “[seek] to provide investment results that closely correspond, before fees and exp
Solactive is a Frankfurt-based financial indices provider.
The proposed ETF, officially called the Goldman Sachs Innovate DeFi and Blockchain Equity ETF is “not sponsored, promoted, sold or supported in any other manner by Solactive,” Goldman Sachs noted in a disclaimer section, where it also referred to the Solactive Decentralized Finance and Blockchain Index as the “Solactive Index.”
However, it appears that in their search for the elusive index in question, confusion took hold among crypto community members who were trying to figure out what the Solactive Decentralized Finance and Blockchain Index actually is. Eventually, some began to suspect that it could be what at first glance looks like a completely different index – the Solactive Blockchain Technology Performance Index.
enses, to the performance of the Solactive Decentralized Finance and Blockchain Index.”
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