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Goldman Sachs Applies for Bitcoin Covered Call Options ETF, Wall Street Accelerates Taming of Crypto Assets

Goldman Sachs Asset Management has filed with the SEC to launch a Bitcoin covered call options ETF, marking the bank's first direct move into cryptocurrency investments. The fund will hold Bitcoin exposure and sell associated call options to generate premium income, distributed to investors as monthly yield. This strategy caps upside potential during significant Bitcoin price rallies in exchange for steady income, targeting cautious investors seeking crypto exposure with reduced volatility. The product mirrors a well-established equity ETF structure that has grown rapidly, with the covered call category now holding over $180 billion in assets. Similar Bitcoin yield-generating strategies have been filed by BlackRock and offered by firms like Roundhill. This development underscores Wall Street’s ongoing integration of crypto into mainstream finance, exemplified by Goldman CEO David Solomon’s recent acknowledgment of personally holding Bitcoin. However, the product’s downside protection remains limited—premium income may not fully offset severe Bitcoin price declines, highlighting the persistent volatility of crypto assets.

华尔街日报Hace 10 hora(s)

Goldman Sachs Applies for Bitcoin Covered Call Options ETF, Wall Street Accelerates Taming of Crypto Assets

华尔街日报Hace 10 hora(s)

Understanding Stock Tokenization in One Article: Who's Doing It, How to Buy, and What Are the Risks?

In the past 60 days, the U.S. capital market has undergone structural changes surpassing the last decade. The SEC outlined a blueprint for tokenized securities, Nasdaq received approval for token settlement, and NYSE partnered with Securitize to launch a tokenization platform. Despite a global equity market worth ~$140 trillion, tokenized stocks represent only ~$890 million—a 0.0007% penetration. The SEC’s January 2026 statement classified tokenized securities into four models: - **Model A (Issuer-Sponsored)**: Direct on-chain ownership (e.g., Galaxy Digital tokenizing its own stock). - **Model B (Tokenized Securities)**: Intermediated custody with blockchain settlement (adopted by Nasdaq, NYSE, DTC). - **Model C (Pegged Securities)**: Synthetic claims via omnibus accounts (e.g., Ondo Finance, xStocks, Dinari—dominant with ~$650M TVL). - **Model D (Derivative Contracts)**: Pure synthetic exposure (e.g., Ventuals’ perpetual swaps on Hyperliquid). For public stocks, Models C and B lead, but face challenges: Model C introduces counterparty risk (no SIPC insurance), while Model A requires issuer participation. Private market tokenization is more transformative, addressing illiquidity and high barriers in the $7T private equity space. Platforms like PreStocks and Jarsy offer 24/7 tokenized access to pre-IPO stocks (e.g., SpaceX, OpenAI) but lack direct ownership rights. Traditional private equity platforms (Forge, EquityZen) are regulated but slow and expensive. Key risks include fee stacking in SPV structures, regulatory uncertainty, and synthetic products’ high funding rates (e.g., Ventuals’ 54% annualized cost for long positions). Infrastructure players (e.g., Securitize, Berry) are advancing models with independent custody to mitigate risks. The convergence of institutional adoption and retail demand signals a foundational shift in market structure, though scalability and transparency remain critical hurdles.

marsbitHace 11 hora(s)

Understanding Stock Tokenization in One Article: Who's Doing It, How to Buy, and What Are the Risks?

marsbitHace 11 hora(s)

Crypto, AI Investments Surface In Fed Chair Nominee’s Financial Disclosure

Amidst key regulatory vacancies at the SEC and CFTC, Federal Reserve Chair nominee Kevin Warsh disclosed over $100 million in assets, including investments in crypto firms (Compound, Dapper Labs, Kinetic) and AI companies (Delphi, Conversion, among others). His largest holding is the $50+ million Juggernaut Fund. The disclosure did not value his crypto/AI holdings, raising questions about potential conflicts of interest as the Fed’s rate decisions directly impact these sectors. With Jerome Powell’s term ending May 15, Warsh’s Senate confirmation process is advancing rapidly.

bitcoinistHace 17 hora(s)

Crypto, AI Investments Surface In Fed Chair Nominee’s Financial Disclosure

bitcoinistHace 17 hora(s)

Kraken IPO Still Alive Despite Market Rumors

Kraken co-CEO Arjun Sethi confirmed the cryptocurrency exchange has confidentially filed for an IPO, despite earlier rumors of a delay due to market conditions. Speaking at the Semafor World Economy 2026 conference, Sethi stated the decision to go public is not driven by a need for funds but will depend on market conditions and regulatory confidence. This follows a $200 million investment from Deutsche Börse Group in Kraken’s parent company, which valued Kraken at $13.3 billion. Sethi emphasized a long-term vision, downplaying short-term regulatory or market fluctuations as significant factors in the IPO timeline.

TheNewsCryptoAyer 09:12

Kraken IPO Still Alive Despite Market Rumors

TheNewsCryptoAyer 09:12

Crypto Gains Ally As Former CFTC Chair Becomes Full-Time Adviser

Former CFTC Chairman Chris Giancarlo, known as "Crypto Dad," has retired from legal practice to work full-time as an adviser in the cryptocurrency and fintech sectors. He will focus on advising founders, CEOs, and boards, along with policy research and nonprofit work. Giancarlo, who served as CFTC commissioner and later chairman, played a key role in approving the first Bitcoin futures markets in the U.S. He has been a vocal advocate for clear crypto regulations rather than restrictive policies. His move follows a trend of senior regulators transitioning into the industry, similar to Caroline Pham’s shift to MoonPay last year. Giancarlo believes current regulators have sufficient authority to bring structure to crypto, though he acknowledges that regulatory uncertainty continues to hinder broader banking involvement.

bitcoinistAyer 08:02

Crypto Gains Ally As Former CFTC Chair Becomes Full-Time Adviser

bitcoinistAyer 08:02

Deutsche Börse Invests $200 Million in Kraken, Valuation Drops 30% from Last Year

Kraken co-CEO Arjun Sethi confirmed at the Semafor World Economy Conference that the crypto exchange has confidentially filed for an IPO. The announcement came alongside a $200 million investment from Deutsche Börse, which acquired a 1.5% stake in Kraken’s parent company Payward, implying a valuation of $13.3 billion — a 33% decrease from its $20 billion valuation in November 2025. Kraken initially submitted its draft S-1 to the SEC a day after its previous funding round, which included backing from Citadel Securities, Jane Street, and DRW Venture Capital. The exchange has not disclosed IPO size or pricing, stating it will finalize terms after regulatory review and market stabilization. The investment deepens a commercial collaboration announced in December 2025, focusing on integrating Kraken’s xStocks tokenized stock platform into Deutsche Börse’s digital asset infrastructure. Kraken has expanded aggressively, launching CME futures trading in October 2025 and reaching over $10 billion in xStocks trading volume by November. Regulatory conditions have also improved, with the SEC dropping its lawsuit against Kraken in March 2025.

marsbitAyer 06:52

Deutsche Börse Invests $200 Million in Kraken, Valuation Drops 30% from Last Year

marsbitAyer 06:52

Goldman Sachs Applies for Bitcoin ETF, The Last Wall Street Fortress Falls

Goldman Sachs has applied for a Bitcoin ETF, marking a dramatic shift in Wall Street's stance toward cryptocurrency. The proposed "Goldman Sachs Bitcoin Premium Income ETF" is not a spot ETF but uses a covered call strategy, holding spot Bitcoin ETF shares (like BlackRock's IBIT) while selling call options to generate premium income. This product targets institutional investors seeking yield rather than speculative gains, effectively packaging Bitcoin's volatility into a tradable income asset. This move follows Morgan Stanley's launch of its own spot Bitcoin ETF (MSBT), which attracted $34 million on its first day. With 16,000 financial advisors managing $9.3 trillion in assets, Morgan Stanley's entry signals a broader institutional adoption phase. Meanwhile, Kevin Warsh, a Fed Chair nominee, disclosed investments in crypto infrastructure like Polymarket and Solana, highlighting deepening political and institutional acceptance. Wall Street's reversal—from JPMorgan CEO Jamie Dimon calling Bitcoin a "fraud" in 2017 to major banks now developing crypto products—underscores a pursuit of profit over ideology. The focus has shifted from debating Bitcoin's legitimacy to monetizing its volatility and integrating it into traditional finance, attracting conservative capital and reshaping the asset’s role in portfolios.

marsbitAyer 01:31

Goldman Sachs Applies for Bitcoin ETF, The Last Wall Street Fortress Falls

marsbitAyer 01:31

BREAKING – Goldman Sachs Bets On Bitcoin Income With New ETF Filing

Goldman Sachs has filed with the SEC for a Bitcoin Premium Income ETF, aiming to provide investors Bitcoin exposure without direct ownership. The fund will allocate at least 80% of its assets into Bitcoin-related products like existing spot Bitcoin ETFs and options. It intends to generate income by selling call options on Bitcoin ETF holdings, capping potential gains if Bitcoin's price rises significantly. This move follows Morgan Stanley's recent launch of the first bank-issued spot Bitcoin ETF. Goldman’s filing reflects growing institutional interest in Bitcoin investment vehicles, though the SEC has not yet approved the fund.

bitcoinistAyer 20:01

BREAKING – Goldman Sachs Bets On Bitcoin Income With New ETF Filing

bitcoinistAyer 20:01

What The SEC’s Latest Crypto Self-Custody Update Means For DeFi, Wallets, And Bitcoin

The US SEC's Division of Trading and Markets has issued new guidance clarifying that certain trading interfaces—including DeFi front-ends, wallets, and mobile apps—may avoid broker-dealer registration if they meet strict conditions. Key requirements include user control of private keys, purely facilitative functions without discretionary routing or investment advice, and transparent, fixed fees. The guidance applies only to "crypto asset securities," excluding Bitcoin, which the SEC considers a commodity. This marks a tonal shift from the Gensler era, emphasizing that self-custodial, non-intermediated activity lies outside broker-dealer regulation. SEC Chair Paul Atkins has hinted at a potential "innovation exemption" for decentralized trading infrastructures.

bitcoinistHace 2 días 08:22

What The SEC’s Latest Crypto Self-Custody Update Means For DeFi, Wallets, And Bitcoin

bitcoinistHace 2 días 08:22

Five-Year Exemption Window: SEC Officially Eases Restrictions on Crypto Asset Securities Trading Interfaces

The U.S. SEC’s Division of Trading and Markets has issued a staff statement providing a five-year exemption from broker-dealer registration for certain crypto asset securities trading interfaces, effective until April 13, 2031. The guidance clarifies that front-end interfaces—such as DeFi platforms, browser extensions, and self-custody wallet integrations—are not considered brokers if they solely act as neutral tools that translate user trading parameters into executable on-chain instructions and provide market data (e.g., gas fees, execution routes), without engaging in order execution, custody, or transaction facilitation. To qualify, these “Covered user interfaces” must adhere to 12 strict conditions centered on neutrality, transparency, and user control. Key requirements include: - Strict neutrality: no promotion of specific securities or execution paths; only objective, verifiable data display. - No payment for order flow or third-party compensation; only fixed, uniform fees permitted. - Full disclosure of conflicts, operational policies, and clear statements that the interface is not SEC-registered. The statement explicitly prohibits interfaces from negotiating terms, offering investment advice, handling user assets, or routing orders. This move aims to separate technical front-ends from financial intermediation, pushing the industry toward compliant, non-custodial, and transparent operations while addressing risks like MEV through enhanced user awareness.

marsbitHace 2 días 07:25

Five-Year Exemption Window: SEC Officially Eases Restrictions on Crypto Asset Securities Trading Interfaces

marsbitHace 2 días 07:25

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