According to a post on X by Bloomberg ETF analyst Eric Balchunas, Goldman Sachs will be getting BTCI in the Neos trade. BTCI is a bitcoin premium income ETF with $1 billion in assets and a yield of 27%. The fund captures most of bitcoin's upside, though not all of it. Balchunas said the move explains why Goldman Sachs never launched the bitcoin covered call options product it applied for months ago. Rather than rolling out a similar product, he argued, the better approach is to surpass BlackRock's BITA.
Bloomberg ETF analyst Eric Balchunas wrote on X that Goldman Sachs will be getting BTCI in the Neos trade. BTCI is a bitcoin premium income ETF with $1 billion in assets and a 27% yield that captures most, but not all, of bitcoin's upside.
Balchunas said the situation helps explain why Goldman Sachs never launched the bitcoin covered call options product it filed months ago. Rather than offering a similar product, he said, the better approach is to surpass BlackRock's BITA.
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