On April 14, Goldman Sachs, the 7th-largest asset manager in the world with $3.65 trillion in Assets Under Supervision (AUM), filed for a Bitcoin ETF with the US Securities and Exchange Commission (SEC).
Known as the Goldman Sachs Bitcoin Premium Income ETF, the product focuses on generating a stable yield to appeal to its older investors, hence the nickname “boomer candy.”
Rather than purchasing Bitcoin, Goldman Sachs will invest at least 80% of its assets in spot Bitcoin ETPs and other Bitcoin-linked products, such as options and indices. The fund will also generate monthly dividends for investors by selling Bitcoin call options.
While these features guarantee a steady income and provide a cushion against market volatility, their downside is that they limit the profits the company could generate during a BTC rally.
Following a typical 75-day SEC review period, analysts estimate the ETF could launch in late June 2026.
Source: SEC.gov
The announcement highlights a shift in Goldman Sachs, from Bitcoin product investor to issuer. It further diversifies its crypto ETF portfolio, with other holdings including Ethereum, Solana, and XRP (Goldman Sachs is the largest holder of XRP ETFs globally).
Even more, it shows an increased appetite for digital asset investment products among institutional investors. Just last week, Morgan Stanley launched what is now the cheapest spot Bitcoin ETF in the US. Other prolific institutions offering similar products include Grayscale and BlackRock.
That said, these firms continue to actively alter their positions in these products to maintain profitability. Just yesterday, spot Bitcoin ETFs recorded net outflows of $291 million, while spot Ethereum ETFs saw $9.44 million in inflows.
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