Goldman Sachs Bets on Bitcoin ETFs: Reveals $418M Holding

Goldman Sachs has revealed substantial holdings in spot Bitcoin exchange-traded funds (ETFs). The Wall Street titan’s recent quarterly filing shows a diverse portfolio of Bitcoin ETF investments totaling an impressive $418 million.

Goldman’s Bitcoin ETF Strategy

Goldman’s largest position is in BlackRock’s iShares Bitcoin Trust (IBIT), with a hefty $240 million investment. This is complemented by major stakes in other major BTC ETFs, including $79.5 million in Fidelity’s offering, $56.1 million in Invesco Galaxy BTC, and $35.1 million in the Grayscale BTC Trust.

The banking giant’s BTC ETF portfolio also includes smaller positions in funds from Bitwise, WisdomTree, and Ark Invest, showcasing a strategy of diversification across multiple providers.

This major investment marks a notable shift for Goldman Sachs, which had previously maintained a skeptical stance toward BTC. Earlier this year, the firm’s head of digital assets praised BTC ETFs as an “astonishing success,” signaling a pivot in the bank’s approach to cryptocurrencies.

Goldman’s embrace of BTC ETFs reflects a broader trend in the financial industry. These investment vehicles offer institutions a familiar and regulated way to gain BTC exposure without the complexities of direct ownership.

The explosive growth of BTC ETFs in 2024 suggests that Goldman is not alone in recognizing their potential. This revelation is also likely to push other companies to follow suit.

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