Goldman Sachs Reveals $418 Million Stake in Bitcoin ETFs
Goldman Sachs has disclosed a $418.65 million investment in U.S. spot Bitcoin exchange-traded funds (ETFs). This revelation was made through the bank’s quarterly 13F filing with the Securities and Exchange Commission.
Key details of Goldman Sachs’ Bitcoin ETF holdings:
- $238.6 million in BlackRock’s iShares Bitcoin Trust (IBIT)
- $79.5 million in Fidelity’s FBTC
- $56.1 million in Invesco Galaxy’s Bitcoin ETF
- $35.1 million in Grayscale’s converted Bitcoin fund
- Smaller positions in Bitwise, WisdomTree, and Ark-21Shares funds
The investment bank’s strategy appears carefully calculated, spreading its bets across seven different Bitcoin ETFs.
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Goldman Sachs’ largest position is iShares Bitcoin Trust
Goldman Sachs’ largest position is in the iShares Bitcoin Trust. This makes it the third-largest holder of IBIT behind Millennium Management and Capula Management Ltd.
Mathew McDermott, Goldman Sachs’ global head of digital assets, recently described the launch of Bitcoin ETFs as a “big psychological turning point” for the industry.
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Speaking at the Consensus 2024 festival, McDermott emphasized the potential of blockchain technology to enhance efficiency in the financial system.
The bank’s investment revelation comes as Bitcoin has gained momentum after the recent major crash. According to the Milk Road Bitcoin price tracker, BTC is trading at $60.890 at press time. Bitcoin is up by 2.6% in the last 24 hours and almost 7% in the last seven days.
