Goldman Sachs Files Bitcoin Premium Income ETF with SEC

Goldman Sachs has made its first direct move into cryptocurrency investment products with the filing of a Bitcoin Premium Income ETF.

The fund will invest at least 80% of its net assets in products that provide bitcoin exposure, including spot bitcoin ETFs and options on bitcoin ETF indices. The fund will not hold bitcoin directly, but will generate income by selling call options on bitcoin ETFs at a premium.

This trade-off between steady income and capped upside is designed for investors who want exposure to bitcoin but also want regular returns. Goldman's filing follows the launch of a similar product by Morgan Stanley last week, and BlackRock has filed for a similar income-focused product.