Goldman Sachs files for its first bitcoin ETF product

Goldman Sachs' asset management division plans to launch its first cryptocurrency exchange-traded fund in the coming months, according ‌to a Tuesday filing with the U.S. Securities and Exchange Commission. The bank ‌unveiled its ETF, designed to offer exposure to bitcoin's price as well as to generate income from ​bitcoin options transactions, only days after rival Morgan Stanley launched its own spot bitcoin fund, the Morgan Stanley Bitcoin Trust ETF. The banks are launching products in a difficult environment for cryptocurrency investments.