Goldman Sachs doubles down on Bitcoin exposure with new premium income ETF

Goldman Sachs is seeking approval to bring a new investment product tied to Bitcoin to the market, according to a prospectus filed with the US SEC on April 14.

The proposed fund, called Goldman Sachs Bitcoin Premium Income ETF, would invest in Bitcoin exchange-traded products and derivatives linked to them, and use options strategies such as selling call options to earn premiums.

Its objective is to deliver indirect exposure to Bitcoin alongside regular income generation.

Goldman Sachs has deepened its involvement in the crypto ecosystem after approaching the sector with caution at first.

The bank relaunched its crypto trading desk in March 2021 and introduced Bitcoin non-deliverable forwards. It later expanded into Bitcoin-backed lending and executed its first Bitcoin-backed loan and a non-deliverable options trade with Galaxy Digital as liquidity provider.

Exposure broadened further by 2024 through spot Bitcoin ETFs, including a $238 million position in BlackRock’s IBIT, which grew to more than $1 billion by the end of 2025, per reports.

BlackRock’s iShares unit also filed with the SEC to launch the iShares Bitcoin Premium Income ETF, which would offer Bitcoin exposure alongside regular income generation through a covered call options strategy.

The ETF will be structured as a Delaware statutory trust and is expected to invest in Bitcoin, shares of the iShares Bitcoin Trust ETF (IBIT), and cash holdings that include premiums earned from options trading.

Goldman Sachs CEO discloses small Bitcoin holding

Goldman Sachs CEO David Solomon has confirmed that he holds a small amount of Bitcoin personally, while continuing to describe himself as an “observer of Bitcoin” focused on monitoring its development.

Speaking at the World Liberty Forum, Solomon reiterated his earlier view of Bitcoin as an “interesting speculative asset.”

He also noted that regulatory constraints currently prevent Goldman from directly holding or trading Bitcoin, but future changes could open the door to market-making in Bitcoin and Ethereum.