Goldman Sachs makes surprise jump into Bitcoin ETFs with a product one analyst dubs “Boomer Candy”

Goldman Sachs has long been content to watch the crypto craze from the sidelines but, in a surprise move, the big bank on Tuesday revealed plans for its own product in the form of a “Bitcoin Premium Income ETF.” 

The new Goldman fund, which was described in a regulatory filing, is structured a little differently from traditional spot Bitcoin ETFs. The fund aims to buy other exchange traded products that hold Bitcoin, rather than hold Bitcoin itself, and sell call options on those funds.