- 2.8 trillion asset manager Goldman Sachs discloses $710 million Bitcoin ETF holdings.
- The report says 83% increase in Goldman Sachs’ holdings of the BlackRock iShares Bitcoin Trust ETF (IBIT), now valued at $461 million.
Goldman Sachs, one of the world’s largest investment banks, has reported $710 million in (ETF) holdings in its latest filing with the U.S. Securities and Exchange Commission (SEC). This is a significant 70% increase in Bitcoin ETF investments since the previous quarter, reflecting the bank’s growing confidence in the cryptocurrency market.
Significant Growth in Bitcoin ETF Investments
It notes significant jumps in a number of Bitcoin ETFs held by Goldman Sachs. The latter, who once referred to Spot BTC ETF Approval as a ‘Psychological Turning Point’, saw the highest growth with its Bitwise BTC ETF (BITB) surging 156% to $22.5 million.
The Grayscale Bitcoin Trust ETF, GBTC, grew 116% and brought the holding to $71.8 million. The largest holding for the bank was BlackRock iShares Bitcoin Trust ETF, IBIT, which grew to $461 million, up 83% since August. Goldman Sachs also increased its holding in Fidelity Wise Origin Bitcoin Fund, FBTC, by 13% to $95.5 million.
In total, Goldman now holds seven of the eleven U.S. BTC ETFs currently available. These investments have cemented the bank as one of the largest institutional investors in Bitcoin ETFs, second only to Millennium Management.
A recent rise in the institutional holding at Goldman Sachs, in addition, represents growing interest among financial giants to hold crypto assets. Others also include a rising institutional BTC ETF investment portfolio among other prominent financial giants: Morgan Stanley stated having $272 million worth of BTC holdings; Michigan, Wisconsin, and several state pension funds are reporting their exposures to BTC ETFs.
The approval of spot BTC ETFs earlier this year provided institutions with a regulated way to invest in Bitcoin without holding the cryptocurrency directly. This has opened the door for traditional financial firms to gain exposure to the growing digital asset market.
Why This Matters
Goldman Sachs increased his stakes in the cryptocurrencies. Bitcoin recently hit an all-time high of $93,477 in November 2024, with analysts predicting that it could go as high as $125,000 within months. With pro-crypto policies also expected to roll under Donald Trump’s administration, adoption will continue to rise, making it easier for Bitcoin to enjoy continued growth.
Thus, Goldman Sachs’ $710 million in BTC ETFs, with a sharp increase in BITB and GBTC, indicates that the investment house is optimistic about the future of Bitcoin. With growing institutional interest, this trend is expected to strengthen Bitcoin’s position in traditional financial markets and consolidate its status as a key global asset.
