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Goldman Sachs Files for “DeFi” ETF to Track Tech Giants

Wall Street investment bank Goldman Sachs has applied for an exchange-traded fund for what it claims is the decentralized finance space, but all may not be what it seems.

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The banking giant filed an application with the U.S. Securities and Exchange Commission (SEC) on July 26 for a DeFi ETF that would offer exposure to public companies.

According to the filing, the proposed fund called the “Goldman Sachs Innovate DeFi and Blockchain Equity ETF”, seeks to provide investment results that closely correspond to the performance of the Solactive DeFi and Blockchain Index from the German indices provider.

The details were thin on the ground but the fund will invest at least 80% of its assets into securities, stocks, and fintech firms featured in the index.

DeFi Fund Without The DeFi

It appears that Goldman may be a little confused over the definition of “DeFi”. A closer look at the Solactive Index reveals that it is largely comprised of U.S. tech giants and international telecoms companies.

Of the top twenty components in its July 23 report, not one of them could be described as a DeFi or blockchain project or organization. The top three were Nokia, Facebook, and Google’s Alphabet.


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Also in the list of stocks tracked were payments giants Visa, Mastercard, and PayPal, tech giants Microsoft, IBM, and Intel, and Chinese e-commerce and telecoms monopolies Baidu, Alibaba, and Tencent.

Hardly what anyone would describe as “decentralized finance”.

It is not the first time Goldman Sachs has got its wires twisted over the crypto industry.

Confusion Reigns at Goldman

In a June 14 report, titled “Digital Assets: Beauty Is Not in the Eye of the Beholder”, the bank concluded that Bitcoin is not “a long-term store of value or an investable asset class”.

They contradicted a May 21 report titled “Crypto: A New Asset Class?” which was largely positive about them with the global head of digital assets at Goldman, saying “Bitcoin is now considered an investable asset”.

Earlier this month, analysts at the investment bank outlined their reasoning behind the claim that Ethereum will eventually become a better store of value than Bitcoin. It also reported that 45% of the ultra-rich are interested in crypto.

In April, Goldman added Bitcoin to its year-to-date returns report, and in March, the bank filed for a Bitcoin ETF with the SEC according to crypto custody firm New York Digital Investment Group (NYDIG).

Now it seems that Goldman has equated DeFi with the likes of Facebook, Google, and Microsoft!

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Source: https://cryptopotato.com/goldman-sachs-files-for-defi-etf-to-track-tech-giants/

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Around 30% of Swing State Voters Want Bitcoin as Legal Payment Method: Poll

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According to a survey, approximately every third swing state resident would like to see local authorities legalizing cryptocurrencies as a payment option. While general support towards private digital currencies is on a high level, the locals still need to learn more, the research revealed.

Texas and Wisconsin Rank First

The London-based polling firm Redfield & Wilton Strategies conducted a survey among over 9,700 eligible voters in 10 swing US states to determine their opinion on some of the latest cryptocurrency developments. Namely, those were California, Florida, Texas, Arizona, Wisconsin, Georgia, North Carolina, Ohio, Pennsylvania, and Virginia.

Asked whether they want their local authorities to legalize digital assets for payments, nearly one-third answered “yes.” Taking a closer look at the different states, Arizona residents seem the most skeptical, with 28% supporting the idea. On the other hand, Texas and Wisconsin head the statistics registering 37% in favor of the initiative.

The “Lone Star State” citizens topped another ranking as 42% would like to follow Wyoming’s crypto-friendly legislation where cryptocurrency transactions are free of taxes. Arizona (25%) bottomed that statistic as well.

Most of the states in the USA have been historically consistent in their votes and have never changed their either democratic or republican stance in the period between 2000 and 2016. However, there are 13 of them, known as swing or battleground states, that usually decide the results of each political campaign.


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The cryptocurrency development in recent years could be another factor that politicians should keep in mind, as Louisa Idel, head of insights at Redfield & Wilton, pointed out:

“If a party wants to catch these receptive voters, it should act swiftly – not only to beat the other party to the punch but also to preempt legislation that would prove difficult to reverse if enacted.”

Most Americans Have Heard only about BTC

While a significant chunk of the US society would like to see cryptocurrencies as a legal means of payment, it also needs to improve its knowledge on the matter.

According to the results, the majority of the voters have only heard or read about bitcoin. Over 60% of them have no knowledge about any other altcoins such as Ethereum (ETH). Even among those familiar with the primary digital asset, nearly 50% said they only knew “a little bit,” while less than 25% consider themselves knowledgeable on the topic.

On the question “Have you heard of cryptocurrencies before the poll?” 14% of Georgia’s residents answered with “no.” Awareness was the highest in Florida, where only 8% of the locals got familiar with digital assets after the survey.

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Source: https://coingenius.news/around-30-of-swing-state-voters-want-bitcoin-as-legal-payment-method-poll-13/?utm_source=rss&utm_medium=rss&utm_campaign=around-30-of-swing-state-voters-want-bitcoin-as-legal-payment-method-poll-13

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AI

Around 30% of Swing State Voters Want Bitcoin as Legal Payment Method: Poll

Published

on

According to a survey, approximately every third swing state resident would like to see local authorities legalizing cryptocurrencies as a payment option. While general support towards private digital currencies is on a high level, the locals still need to learn more, the research revealed.

Texas and Wisconsin Rank First

The London-based polling firm Redfield & Wilton Strategies conducted a survey among over 9,700 eligible voters in 10 swing US states to determine their opinion on some of the latest cryptocurrency developments. Namely, those were California, Florida, Texas, Arizona, Wisconsin, Georgia, North Carolina, Ohio, Pennsylvania, and Virginia.

Asked whether they want their local authorities to legalize digital assets for payments, nearly one-third answered “yes.” Taking a closer look at the different states, Arizona residents seem the most skeptical, with 28% supporting the idea. On the other hand, Texas and Wisconsin head the statistics registering 37% in favor of the initiative.

The “Lone Star State” citizens topped another ranking as 42% would like to follow Wyoming’s crypto-friendly legislation where cryptocurrency transactions are free of taxes. Arizona (25%) bottomed that statistic as well.

Most of the states in the USA have been historically consistent in their votes and have never changed their either democratic or republican stance in the period between 2000 and 2016. However, there are 13 of them, known as swing or battleground states, that usually decide the results of each political campaign.


ADVERTISEMENT

The cryptocurrency development in recent years could be another factor that politicians should keep in mind, as Louisa Idel, head of insights at Redfield & Wilton, pointed out:

“If a party wants to catch these receptive voters, it should act swiftly – not only to beat the other party to the punch but also to preempt legislation that would prove difficult to reverse if enacted.”

Most Americans Have Heard only about BTC

While a significant chunk of the US society would like to see cryptocurrencies as a legal means of payment, it also needs to improve its knowledge on the matter.

According to the results, the majority of the voters have only heard or read about bitcoin. Over 60% of them have no knowledge about any other altcoins such as Ethereum (ETH). Even among those familiar with the primary digital asset, nearly 50% said they only knew “a little bit,” while less than 25% consider themselves knowledgeable on the topic.

On the question “Have you heard of cryptocurrencies before the poll?” 14% of Georgia’s residents answered with “no.” Awareness was the highest in Florida, where only 8% of the locals got familiar with digital assets after the survey.

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PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

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Source: https://coingenius.news/around-30-of-swing-state-voters-want-bitcoin-as-legal-payment-method-poll-13/?utm_source=rss&utm_medium=rss&utm_campaign=around-30-of-swing-state-voters-want-bitcoin-as-legal-payment-method-poll-13

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AI

Around 30% of Swing State Voters Want Bitcoin as Legal Payment Method: Poll

Published

on

According to a survey, approximately every third swing state resident would like to see local authorities legalizing cryptocurrencies as a payment option. While general support towards private digital currencies is on a high level, the locals still need to learn more, the research revealed.

Texas and Wisconsin Rank First

The London-based polling firm Redfield & Wilton Strategies conducted a survey among over 9,700 eligible voters in 10 swing US states to determine their opinion on some of the latest cryptocurrency developments. Namely, those were California, Florida, Texas, Arizona, Wisconsin, Georgia, North Carolina, Ohio, Pennsylvania, and Virginia.

Asked whether they want their local authorities to legalize digital assets for payments, nearly one-third answered “yes.” Taking a closer look at the different states, Arizona residents seem the most skeptical, with 28% supporting the idea. On the other hand, Texas and Wisconsin head the statistics registering 37% in favor of the initiative.

The “Lone Star State” citizens topped another ranking as 42% would like to follow Wyoming’s crypto-friendly legislation where cryptocurrency transactions are free of taxes. Arizona (25%) bottomed that statistic as well.

Most of the states in the USA have been historically consistent in their votes and have never changed their either democratic or republican stance in the period between 2000 and 2016. However, there are 13 of them, known as swing or battleground states, that usually decide the results of each political campaign.


ADVERTISEMENT

The cryptocurrency development in recent years could be another factor that politicians should keep in mind, as Louisa Idel, head of insights at Redfield & Wilton, pointed out:

“If a party wants to catch these receptive voters, it should act swiftly – not only to beat the other party to the punch but also to preempt legislation that would prove difficult to reverse if enacted.”

Most Americans Have Heard only about BTC

While a significant chunk of the US society would like to see cryptocurrencies as a legal means of payment, it also needs to improve its knowledge on the matter.

According to the results, the majority of the voters have only heard or read about bitcoin. Over 60% of them have no knowledge about any other altcoins such as Ethereum (ETH). Even among those familiar with the primary digital asset, nearly 50% said they only knew “a little bit,” while less than 25% consider themselves knowledgeable on the topic.

On the question “Have you heard of cryptocurrencies before the poll?” 14% of Georgia’s residents answered with “no.” Awareness was the highest in Florida, where only 8% of the locals got familiar with digital assets after the survey.

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Source: https://coingenius.news/around-30-of-swing-state-voters-want-bitcoin-as-legal-payment-method-poll-13/?utm_source=rss&utm_medium=rss&utm_campaign=around-30-of-swing-state-voters-want-bitcoin-as-legal-payment-method-poll-13

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Cathie Wood’s Ark Invest Buys $89M Worth of TWTR After the Bitcoin Tips Integration

Published

on

According to a survey, approximately every third swing state resident would like to see local authorities legalizing cryptocurrencies as a payment option. While general support towards private digital currencies is on a high level, the locals still need to learn more, the research revealed.

Texas and Wisconsin Rank First

The London-based polling firm Redfield & Wilton Strategies conducted a survey among over 9,700 eligible voters in 10 swing US states to determine their opinion on some of the latest cryptocurrency developments. Namely, those were California, Florida, Texas, Arizona, Wisconsin, Georgia, North Carolina, Ohio, Pennsylvania, and Virginia.

Asked whether they want their local authorities to legalize digital assets for payments, nearly one-third answered “yes.” Taking a closer look at the different states, Arizona residents seem the most skeptical, with 28% supporting the idea. On the other hand, Texas and Wisconsin head the statistics registering 37% in favor of the initiative.

The “Lone Star State” citizens topped another ranking as 42% would like to follow Wyoming’s crypto-friendly legislation where cryptocurrency transactions are free of taxes. Arizona (25%) bottomed that statistic as well.

Most of the states in the USA have been historically consistent in their votes and have never changed their either democratic or republican stance in the period between 2000 and 2016. However, there are 13 of them, known as swing or battleground states, that usually decide the results of each political campaign.


ADVERTISEMENT

The cryptocurrency development in recent years could be another factor that politicians should keep in mind, as Louisa Idel, head of insights at Redfield & Wilton, pointed out:

“If a party wants to catch these receptive voters, it should act swiftly – not only to beat the other party to the punch but also to preempt legislation that would prove difficult to reverse if enacted.”

Most Americans Have Heard only about BTC

While a significant chunk of the US society would like to see cryptocurrencies as a legal means of payment, it also needs to improve its knowledge on the matter.

According to the results, the majority of the voters have only heard or read about bitcoin. Over 60% of them have no knowledge about any other altcoins such as Ethereum (ETH). Even among those familiar with the primary digital asset, nearly 50% said they only knew “a little bit,” while less than 25% consider themselves knowledgeable on the topic.

On the question “Have you heard of cryptocurrencies before the poll?” 14% of Georgia’s residents answered with “no.” Awareness was the highest in Florida, where only 8% of the locals got familiar with digital assets after the survey.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://coingenius.news/cathie-woods-ark-invest-buys-89m-worth-of-twtr-after-the-bitcoin-tips-integration-13/?utm_source=rss&utm_medium=rss&utm_campaign=cathie-woods-ark-invest-buys-89m-worth-of-twtr-after-the-bitcoin-tips-integration-13

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