Goldman Sachs has filed to launch a Bitcoin Premium Income ETF, marking a significant development in the institutional adoption of cryptocurrency investment products. According to a preliminary prospectus filed with the US Securities and Exchange Commission on August 14, the bank is seeking to list this income-generating exchange-traded fund linked to Bitcoin. The fund would invest at least 80% of its assets in Bitcoin-linked assets and use a call-option selling strategy to collect option premiums as income. Up to 25% could be managed through a Cayman Islands subsidiary, with the portion allocated to option selling adjusted within a range of about 40% to 100% depending on market conditions.
US and Iran have reached an 'in principle' agreement to extend the ceasefire that was set to expire on April 22, with Trump hinting at action within two days to finalize the deal. According to AP reports, this development comes as the Israel Security Cabinet is set to meet to discuss a possible Lebanon ceasefire, indicating broader regional diplomatic progress. The extension of the ceasefire has eased immediate supply pressure and reduced geopolitical tensions that had been driving oil prices higher. WTI crude fell 0.88% to $90.4 per barrel on Wednesday as the crossing and diplomatic signals eased immediate supply pressure, representing a sharp decline from the $103 spike logged when the blockade was first announced.
WTI crude fell 0.88% to $90.4 per barrel on Wednesday as the crossing and diplomatic signals eased immediate supply pressure. As reported by crypto.news, this represents a sharp decline from the $103 spike logged when the blockade was first announced. China's Foreign Ministry called the blockade "dangerous and irresponsible," urging parties to "abide strictly" to the ceasefire, with roughly 40% of China's oil supply transiting the Strait giving Beijing a structural interest in keeping it open regardless of Washington's pressure on Tehran.
Bitcoin has closely tracked oil prices throughout the conflict, with BTC dropping into the low $60s when Iran first closed the Strait in late February and rallying to $72,700 when the April 7 ceasefire was announced. According to analysis from Tesseract Group's Head of Commercial Adam Saville Brown, when Iran closed the Strait of Hormuz, Bitcoin dropped alongside everything else, while the reverse is equally true: oil at $90 versus $103 removes the energy inflation narrative that has kept rate cut expectations suppressed and risk appetite compressed. Bitcoin currently sits at $74,000 after three failed breakout attempts at $76,000, with the supply of crowded shorts not unwinding. The $90 crude level puts oil below the $95 threshold analysts have flagged as the threshold where energy inflation stops crowding out Fed pivot expectations.
The $90 crude level puts oil below the $95 threshold analysts have flagged as the threshold where energy inflation stops crowding out Fed pivot expectations. As reported by crypto.news, if this level holds through the April 22 ceasefire expiry and into the April 28 FOMC meeting, bitcoin's macro backdrop improves meaningfully. The IMF cut its 2026 global growth forecast to 3.1% from 3.3%, citing energy costs as the primary driver, making any sustained oil decline a catalyst with broad market implications. A durable move in oil toward $85 to $90 could provide the external catalyst that internal derivatives signals have been waiting on.
