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.
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