Goldman Sachs Files to Launch Bitcoin Income ETF Tied to Options

In brief

• Goldman Sachs filed an application for an ETF that generates income by selling options tied to those that track the digital asset’s spot price
• Under normal circumstances, the fund would allocate 80% of its net assets to investments that provide Bitcoin exposure, including spot ETFs.
• In January, BlackRock filed for a similar ETF that uses an options strategy to generate premium income for investors beyond spot price gains.

Goldman Sachs filed an application for an exchange-traded fund on Tuesday that seeks to generate income for investors by selling options tied to Bitcoin’s price, underscoring the Wall Street giant’s incremental approach toward the digital assets space.

The Goldman Sachs Bitcoin Premium ETF would allocate at least 80% of its assets to investments that provide exposure to Bitcoin, including ETFs that track the digital asset’s spot price as well as derivatives tied to those products.

To generate income for investors, the fund would sell options tied to Bitcoin ETFs, generating returns from the premium that investors pay to gain leveraged exposure to Bitcoin.

With Goldman Sachs managing $3.65 trillion in assets (AUM), the filing represents a new entry into “the Bitcoin ETF game,” according to Bloomberg Senior ETF Analyst Eric Balchunas, who expressed a sense of shock on X at the investment bank’s latest filing.

Interesting side note: this is a '40 Act filing so it has to use a Cayman Subsidiary to get around regulatory limitations re holding commodities. BlackRock meanwhile has a '33 Act product that is similar. Goldman may sense opp to leap frog them and/or is prob hearing from their… pic.twitter.com/KOoCK5sT6U

— Eric Balchunas (@EricBalchunas) April 14, 2026

The analyst noted that Goldman’s fund is based around a subsidiary located in the Cayman Islands, allowing it to manage regulatory limitations associated with holding commodities. That stands in contrast with a similar ETF that BlackRock has filed for, he said.

“Goldman may sense [an opportunity] to leap frog them,” Balchunas added, suggesting that the ETF could debut first due to its regulatory structure. “Anyway, I can't say I saw this coming.”