Goldman Sachs Seeks SEC Approval for Its First Bitcoin-Linked ETF

Goldman Sachs has filed with the U.S. Securities and Exchange Commission (SEC) to launch the Goldman Sachs Bitcoin Premium Income ETF, its first attempt to issue a crypto-related fund under its own name. In a preliminary prospectus dated April 14, the bank said the ETF will invest at least 80% of its net assets in instruments tied to bitcoin (BTC), primarily by holding shares of existing spot bitcoin exchange-traded products. The fund would also run an options overlay designed to generate income. The "premium" referenced in the name comes from selling call options on those spot bitcoin ETFs and collecting cash premiums from buyers. Goldman said it expects to sell call options covering roughly 40% to 100% of the portfolio's bitcoin exposure. The filing marks a shift in strategy for Goldman, which has largely gained exposure by buying other issuers' bitcoin ETFs. Fortune reported the bank held about $2.05 billion in bitcoin and ether ETF positions as of the end of 2024, with its largest allocations in products from BlackRock and Fidelity. The application follows Morgan Stanley's recent spot bitcoin ETF launch, which drew $30 million in inflows on its first day. Goldman's filing lists no finalized ticker or exchange. Bitcoin rose about 4% on the day to around $74,800, according to The Defiant's price tracker. This story was produced with AI-assisted workflows and was curated, edited, and fact-checked by a human.