Goldman Sachs applies to launch a Bitcoin ETF that invests in other Bitcoin exchange-traded products

Techub News, according to The Block, Goldman Sachs plans to launch a Bitcoin ETF named "Goldman Sachs Bitcoin Premium Income." This ETF aims to gain Bitcoin investment exposure by investing in exchange-traded products that hold Bitcoin, as well as options related to these products and indices tracking their performance.

Goldman Sachs stated in the filing: "Since the value of spot Bitcoin ETPs fluctuates with the price of Bitcoin, the fund will simultaneously benefit from the ups and downs of Bitcoin price returns experienced by the spot Bitcoin ETPs it invests in." According to the prospectus, the Bitcoin ETF Goldman Sachs intends to launch will also generate income by selling call options on Bitcoin ETPs and collecting premiums.