Goldman Sachs has filed with the U.S. Securities and Exchange Commission (SEC) for the Goldman Sachs Bitcoin Premium Income ETF, marking the Wall Street giant's first foray into issuing its own crypto fund.
The preliminary prospectus, filed with the SEC today April 14, states that the fund will invest at least 80% of net assets in BTC-exposed instruments, primarily shares of existing spot Bitcoin exchange-traded products, while layering an options strategy on top to generate income.
The "premium" in the name refers to cash collected by selling call options on those spot Bitcoin ETFs. Per the filing, Goldman plans to sell call options covering between 40% and 100% of the fund's Bitcoin exposure, collecting upfront fees, aka premiums, from buyers.
The move is a notable shift for Goldman, which has spent the past two years buying other firms' Bitcoin ETFs rather than launching its own. According to Fortune, the bank held about $2.05 billion in Bitcoin and Ethereum ETFs as of end of 2024, with its largest positions in BlackRock's and Fidelity's funds — a stake it has continued to build.
The filing comes on the heels of Morgan Stanley's spot Bitcoin ETF debut, which launched with $30 million in inflows on its first day. If approved, it would mark another major Wall Street bank bringing a crypto-linked fund to market.
A ticker and exchange listing have not yet been finalized, per the SEC filing.
Bitcoin is up 4% on the day, trading near $74,800, per data from The Defiant’s price tracker.
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