US financial giant Goldman Sachs wants to launch a special Bitcoin ETF.
Goldman Sachs ETF Trust stock price history filed for the SEC to approve the Goldman Sachs Bitcoin Premium Income ETF.
The fund is designed to provide stable income to investors and reduce exposure to the price of Bitcoin.
The ETF will invest at least 80% of its assets in instruments that provide exposure to Bitcoin, and will not hold BTC directly.
These include Spot Bitcoin ETPs, options on Spot Bitcoin ETPs and options on Bitcoin ETP Indices.
In order to make money, the fund organizes exchange rate options, sells call options on bitcoin-related ETPs and collects cash.
The overwrite rate will be from 40% to 100% of the contact bitcoin depending on the market conditions.
The fund will be exposed to volatility in bitcoin prices and other risks, including a slight decline in the call writing process.
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