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Goldman Sachs Files for Bitcoin Income ETF in Crypto Push
The fund would use an options strategy to generate income for investors while limiting some upside in strong bitcoin rallies.
- On Monday, Goldman Sachs filed an application for a "Bitcoin Premium Income ETF," marking the bank's first direct push into proprietary cryptocurrency investment funds.
- Regulatory constraints previously caused Goldman to lag peers like JPMorgan and Morgan Stanley, though the bank's stance has shifted as policymakers provide clearer guidance.
- Goldman described the product as an "options overwrite strategy" that creates regular income from the sale of call positions rather than holding Bitcoin directly.
- Bloomberg ETF analyst Eric Balchunas called the filing a shock, suggesting Goldman aims to compete with BlackRock by offering clients what he termed "Boomer Candy."
- While the ETF could outperform spot Bitcoin ETFs in modest markets, the firm noted performance may lag during rapid price appreciation due to capped upside.
30 Articles
30 Articles
Goldman Sachs Follows Morgan Stanley as Latest to Prep Bitcoin ETF
What do you get when you mix two fund categories with enough rizz for an investment bank led by a DJ? The Goldman Sachs Bitcoin Premium Income ETF. The company filed with the Securities and Exchange Commission on Tuesday for what would be its entry into the crypto ETF world. And it’s not a basic spot-price fund aimed to compete with BlackRock’s iShares Bitcoin Trust (IBIT) or Morgan Stanley’s new low-cost Bitcoin Trust ETF (MSBT). Rather, this e…
Goldman Sachs Seeks SEC Approval for New Bitcoin ETF
Goldman Sachs has filed a registration statement with the Securities and Exchange Commission (SEC) for a new bitcoin exchange-traded fund (ETF). The Goldman Sachs Bitcoin Premium Income ETF “seeks current income while maintaining prospects for capital appreciation,” according to the statement. The bank will not sell these securities until the registration statement is effective, it said. According to the preliminary prospectus included…
Goldman Sachs does not want to stay behind and lands in the crypto world. The US bank has submitted a request to the US Stock Exchange and Securities Commission (SEC) for...
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