- Goldman Sachs increased their Bitcoin and Ethereum ETF stack.
- The institution is improving its accessibility to cryptocurrency products.
In a recent stir, Goldman Sachs, a prominent investment bank is making buzz in the crypto arena with its latest ETF investment. The company grew its Bitcoin and Ethereum ETF share by a big margin.
According to the company’s February report, Goldman Sachs has elevated its spot Ether exchange-traded fund (ETF) holdings by 2000%. This increases its Ethereum ETF exposure from $22 million to $476 million.
The investment diverged equally between BlackRock’s iShares Ethereum Trust (ETHA) and the Fidelity Ethereum Fund (FETH). Besides this, the firm also invested $6.3 million in Grayscale Ethereum Trust ETF (ETHE).
On February 11, the company shared its Form 13F filing with the Securities and Exchange Commission which revealed its holdings.
The company increased its Bitcoin ETF holdings by 114% making its holdings worth $1.52 billion. They purchased over $1.28 billion worth of shares in the iShares Bitcoin Trust (IBIT), a 177% increase from the previous quarter. It also invested $288 million in the Fidelity Wise Origin Bitcoin Fund (FBTC).
In addition to this, the firm has sold its entire ARK 21Shares Bitcoin ETF holding. Furthermore, they also reduced their exposure to Grayscale Bitcoin ETF.
Goldman Sachs Big Bets In Crypto Planet
Goldman Sachs’ increased holding in Bitcoin and Ethereum ETF demonstrates a shift in their investment approach. In November 2024, the company reported that they are planning to launch a cryptocurrency platform.
The new crypto platform will make trading financial instruments with the blockchain technology. The recent developments by the company signify their growing interest in the crypto space.
As the Bitcoin and crypto market is going mainstream, the industry is attracting institutional investments.
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