Goldman Sachs files for its first bitcoin ETF product

Goldman Sachs Asset Management filed with the U.S. SEC to launch its first bitcoin ETF, a product that would track bitcoin’s price while generating income from bitcoin options, with a potential launch by the end of June. The move follows Morgan Stanley’s recent spot bitcoin fund and comes after Goldman’s $2 billion acquisition of Innovator Capital Management, known for options-based ETFs. Markets are challenging: bitcoin is down about 15% year-to-date to $74,591 and roughly 40% below its October all-time high, and some covered-call crypto ETFs have seen recent outflows. Analysts caution the options-income angle may be a hard sell amid elevated volatility and weak risk sentiment, tempering the immediate bullish impact on crypto demand.