Table of Contents
Goldman Sachs has significantly increased its holdings in Bitcoin exchange-traded funds (ETFs).
In its latest 13F filing with the US Securities and Exchange Commission (SEC), the investment powerhouse revealed it now holds $1.57 billion in Bitcoin ETFs. The figure represents a 121.1% increase from the $710 million reported in the previous quarter and underscores its strong institutional push towards Bitcoin.
Goldman's Bitcoin ETF exposure includes 24.07 million shares of BlackRock’s iShares Bitcoin Trust (IBIT), valued at $1.27 billion, marking an 88% increase in IBIT shares from the last quarter.
Additionally, the bank has upped its stake in Fidelity’s Wise Origin Bitcoin ETF (FBTC) by $288 million, reflecting a 105% growth. Goldman also maintains smaller holdings in Grayscale’s Bitcoin Trust (GBTC), amounting to $3.6 million.
Goldman Sachs also engaged in options trading related to Bitcoin ETFs, with positions totaling $760 million, including $527 million in put options and $157 million in call options through IBIT.
However, the bank also closed minor positions in ARK 21Shares’ ARKB, Bitwise’s BITB, Grayscale’s mini Bitcoin trust, Invesco Galaxy’s BTCO, and WisdomTree’s BTCW.
Ethereum holdings also surged from $25.1 million to $476.5 million in Goldman's latest quarter, marking a nearly 19-fold increase. This includes $234.7 million in Fidelity’s FETH and $235.5 million in BlackRock’s ETHA.
Goldman's Bitcoin ETF holdings come at a time when Bitcoin is trading at its highest price zone, trailing just under $100,000 at the time of writing, while the total marketcap of Bitcoin ETFs stands at $114.55 billion.
Asset managers including Franklin Templeton, GGrayscale, Bitwise, and VanEck , which issued Bitcoin ETFs in January last year, are now seeking approval for Solana ETFs.
Blockhead
In December, Goldman Sachs CEO David Solomon revealed that the global investment bank is open to entering the cryptocurrency market for Bitcoin and Ethereum trading, provided there is a shift in US regulations.
Speaking at the Reuters Next conference, Solomon emphasized that current regulatory constraints limit the firm's ability to directly participate in crypto trading.
“If the regulatory structure changes, we would evaluate that,” Solomon stated, acknowledging growing interest and attention toward crypto assets in the financial world. However, he reiterated his view of Bitcoin as a speculative asset, noting its current allure due to price surges and investor enthusiasm.
Blockhead
"These assets, Biitcoin for example, you know these are speculative assets at the moment," Solomon said, adding, "But people are very interested in them. I understand why."
