The proposed fund, dubbed the Goldman Sachs Innovate DeFi and Blockchain Equity ETF, strives to track the Decentralized Finance and Blockchain Index from German financial indices provider, Solactive. The fund will invest at least 80% of its assets into securities, stocks, and depository receipts featured in the index. The filing asserts the index seeks to offer exposure to firms aligned with two key narratives: “the implementation of blockchain technology,” and “the digitalization of finance.” As of July 23, the top stocks included in Solactive’s decentralized finance index included Nokia, Facebook, Google, Accenture, and Fujitsu — each of which represented between …
A survey conducted by major investment bank Goldman Sachs has found that close to half of its family office clients want to add cryptocurrency to their portfolios, signaling the ultra-wealthy are becoming increasingly bullish on digital assets. The survey, reported by Bloomberg, queried more than 150 family offices worldwide and found that 15% are already exposed to crypto assets. A further 45% of offices expressed interest in investing in the asset class as a hedge against “higher inflation, prolonged low rates, and other macroeconomic developments following a year of unprecedented global monetary and fiscal stimulus.” However, other respondents cited concerns …
Not all analysts are convinced that Tesla’s recent acquisition of $1.5 billion worth of Bitcoin (BTC) will prove to be as beneficial for the tech giant as it was for the BTC coin price. Head of equity strategy at Saxo Bank, Peter Garnry, wrote in a research note that Elon Musk had exposed Tesla and its investors to “immense risk”, as reported by Reuters on Feb. 11. “Elon Musk has exposed Tesla to immense mark-to-market risk,” wrote Garnry, adding that the main concern for investors was valuing Bitcoin’s worth over the long term, given the intense market volatility it’s been …
Celsius (CEL) has repaid a substantial amount of its outstanding debt to Maker (MKR) protocol since the beginning of the month, signaling that the troubled crypto lending platform was trying to stave off a complete collapse amid credible rumors of insolvency. Since July 1, Celsius has repaid $142.8 million worth of Dai (DAI) stablecoins across four separate transactions, according to data from DeFi Explorer. The crypto lender still has $82 million in outstanding debt owed to Maker. Out of $1.8 billion in lifetime investments, the firm's losses currently stand at $667.2 million. With the loan repayments, Celsius’ liquidation price on …
As crypto company valuations are affected by the recent FTX debacle, financial services firm Goldman Sachs is looking to swoop in and invest millions to purchase or invest in crypto firms while the prices are low. In an interview with mainstream media outlet Reuters, Mathew McDermott, an executive at Goldman Sachs, reportedly said that big banks are seeing opportunities in the space as the FTX collapse highlighted a need for more regulation within the industry. The executive added that the firm is currently seeing opportunities that are "priced more sensibly" and are already doing its due diligence on some crypto …