I have bought a bits set and there is this bit:

It is a Y shaped bit, and there is a groove on the inside of the branches. The angle is approximatively 90˚ (a little more).
I have bought a bits set and there is this bit:

It is a Y shaped bit, and there is a groove on the inside of the branches. The angle is approximatively 90˚ (a little more).
It's a bit for screwing in eye bolts, or hooks.

The list of bits in this set, lists it as a "Y-shape hook driver".
Also can be used for wing nuts.