Goldman Sachs Seeks to Launch Bitcoin Premium Income ETF

Goldman Sachs is seeking to launch an income-generating exchange-traded fund tied to Bitcoin.

A preliminary prospectus filed with the US Securities and Exchange Commission on Aug. 14 shows the bank applied to list the Bitcoin Premium Income ETF.

Instead of holding Bitcoin directly, the fund would invest in spot Bitcoin ETFs, or ETPs, and related options. It would use a call-selling strategy on Bitcoin-linked assets to generate income from option premiums.

The approach can provide steady cash flow, but it also limits upside in rising markets.

The fund would invest at least 80% of its assets in Bitcoin-linked assets. Up to 25% could be managed through a Cayman Islands subsidiary. The portion allocated to option selling would be adjusted within a range of about 40% to 100%, depending on market conditions.

Goldman Sachs plans for the product to pursue regular income alongside capital gains from price appreciation.

The filing reflects a broader shift in the market beyond simple spot-price tracking products toward active crypto ETFs that use options and other derivatives.

Bitwise previously launched an active ETF that combines macro assets and Bitcoin. T. Rowe Price is also considering an ETF that would directly hold Bitcoin, Ether and Solana.

Separately, Goldman Sachs recently completed its acquisition of ETF manager Innovator Capital, expanding its footprint in the global active ETF market.