Payout on the notes will be Determined by the performance of this ARK Innovation ETF, an actively managed fund Provided by Cathie Wood’s ARK Investment Management.
Goldman Sachs dipped another fur to the cryptocurrency pool by submitting to provide notes connected to the operation of an exchange-traded fund (ETF) that could have vulnerability to cryptos like bitcoin (BTC, -8.57%).
Payout about the notes will be Determined by the performance of this ARK Innovation ETF, an actively managed fund Provided by Cathie Wood’s ARK Investment Management.
The ARK Innovation ETF’s strategy entails exposure to companies which are capitalizing on disruptive innovation and growing technologies, such as blockchain.
The ETF might also have exposure to cryptocurrency, for example bitcoin, indirectly through an investment at a grantor trust, according to the filing.
The submitting continues a trend by Goldman of supplying structured notes with payouts tied into the performance of different funds or instruments with potential bitcoin vulnerability and that trend appears to be accelerating. A key word search of these filings yielded 81 results from 2021, without the outcomes showing up for previous years.
The bill comes weeks after Goldman President and Chief Operating Officer John Waldron allegedly said the investment banking giant was seeing more need for bitcoin one of its customers, which while the bank has been”controlled” on which it might do Goldman has been”participate” with customers.
Additionally, it comes after the lender recently relaunched its own cryptocurrency trading table with the intent of supporting futures for bitcoin, three years after shelving plans to achieve that.
Meanwhile, the multinational investment bank has issued a request for advice to research electronic asset prosecution, as CoinDesk formerly reported.