Wall Street megabank is planning to create an exchange-traded fund tied to the performance of companies that are working on blockchain technology and the digitization of finance, according to a Monday filing with the Securities and Exchange Commission.
Per the filing, the fund “seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the Solactive Decentralized Finance and Blockchain Index (the “Index”).” What that index is comprised of is unclear; an index with that name is not included on Solactive’s list of active indices. However, Solactive maintains an array of indices related to cryptocurrencies and blockchain.
“The Index is designed to deliver exposure to companies that are aligned with two key themes, the implementation of Blockchain Technology and the Digitalization of Finance (the “Themes”),” per the filing.
