The asset management arm of Goldman Sachs Group is reportedly looking to offer an exchange-traded fund (ETF) focused on securities of cryptocurrency-related companies.

The American investment giant filed an application with the US Securities and Exchange Commission (SEC) for the same, Bloomberg has reported.

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According to the filing, The Goldman Sachs Innovate DeFi and Blockchain Equity ETF will be responsible for tracking Solactive Decentralised Finance and Blockchain Index.

The company also said in its application that the fund would invest at least 80% of its assets in securities depositary receipts and stocks of companies included in the index.

This is exclusive of collateral held from securities lending.

With the move, Goldman is eyeing to offer its customers exposure to decentralised finance (DeFi) which includes peer-to-peer lending, borrowing, and trading.

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The company has been advancing its approach to cryptocurrency in the recent months.

Last month, it was reported that Goldman has partnered with cryptocurrency merchant bank Galaxy Digital to start trading bitcoin futures.

The news about the partnership came a month after the firm’s move to establish a cryptocurrency desk.

According to a CNBC report in April, Goldman said in a memo that it would sign on new liquidity providers to expand its bitcoin offering to the wealthy clients of its private wealth management group.

In May, Bloomberg reported that the firm is started offering new bitcoin derivatives to investors to further accelerate its push into the $1 trillion bitcoin market.

In March this year, it was reported that Morgan Stanley is set to offer bitcoin fund for its wealth management clients.