Goldman Sachs Seeks SEC Approval for Bitcoin Premium Income ETF

Goldman Sachs has filed a prospectus with the U.S. Securities and Exchange Commission dated April 14 to launch a new Bitcoin-linked product, the Goldman Sachs Bitcoin Premium Income ETF. According to the filing, the proposed ETF would seek indirect exposure to Bitcoin by investing in Bitcoin exchange-traded products and related derivatives. It would also employ options-based strategies—such as selling call options—to collect option premiums, aiming to pair Bitcoin-linked returns with a recurring income component. Goldman's latest filing adds to its steadily expanding footprint in digital assets after an initially cautious approach. The bank restarted its crypto trading desk in March 2021 and rolled out Bitcoin non-deliverable forwards. It later moved into Bitcoin-backed lending, completing its first Bitcoin-backed loan and executing a non-deliverable options trade with Galaxy Digital acting as liquidity provider. By 2024, Goldman's exposure broadened further through spot Bitcoin ETFs. Reports have cited a $238 million position in BlackRock's iShares Bitcoin Trust ETF (IBIT), which grew to more than $1 billion by the end of 2025. BlackRock's iShares business has also filed with the SEC for an iShares Bitcoin Premium Income ETF. The proposed fund would use a covered-call options strategy to generate income while providing Bitcoin exposure. The filing says the ETF would be structured as a Delaware statutory trust and expects to hold Bitcoin, shares of IBIT, and cash, including premiums earned from options activity. Separately, Goldman Sachs CEO David Solomon said he personally owns a small amount of Bitcoin while describing himself as an "observer of Bitcoin," focused on tracking the asset's evolution. Speaking at the World Liberty Forum, Solomon reiterated his earlier characterization of Bitcoin as an "interesting speculative asset." He added that regulatory restrictions currently limit Goldman's ability to directly hold or trade Bitcoin, though future changes could allow the firm to make markets in Bitcoin and Ethereum.