The post Goldman Sachs Discloses $718 Million in Bitcoin ETF Holdings, Reflecting Growing Institutional Interest appeared on BitcoinEthereumNews.com.

In a recent filing with the U.S. Securities and Exchange Commission (SEC), Goldman Sachs revealed substantial investments in Bitcoin exchange-traded funds (ETFs), totaling approximately $718 million. The November 14 disclosure showcases Goldman’s increasing commitment to Bitcoin ETFs, with a diversified portfolio spanning multiple prominent issuers, including a $461 million stake in BlackRock’s iShares Bitcoin Trust ETF (IBIT). This move underscores the bank’s strategic pivot toward digital assets, especially in the face of growing institutional demand for cryptocurrency-related products. 🏦 Goldman Sachs reveals $718M in Bitcoin ETF holdings. In a Nov. 14 SEC filing, Goldman disclosed $718M across 8 Bitcoin ETFs, including $461M in BlackRock’s IBIT. The bank increased its Bitcoin ETF portfolio by $300M since Q2 – a 71% jump. pic.twitter.com/h7uoxCGJU9 — Satoshi Club (@esatoshiclub) November 15, 2024 The filing highlighted a notable increase in Goldman Sachs’ Bitcoin ETF portfolio, marking a $300 million rise since the second quarter of 2024. This 71% increase reflects the bank’s confidence in Bitcoin as a financial instrument that aligns with evolving market dynamics and institutional investment trends. Major economic players like Goldman increasingly participate as the cryptocurrency market matures, boosting market credibility and offering further legitimacy to Bitcoin-based products. According to Satoshi Club, Goldman Sachs’ $718 million portfolio is spread across eight Bitcoin ETFs, each contributing to the bank’s overall exposure to the digital asset. The most significant holding is BlackRock’s IBIT, which accounts for $461 million. Substantial investments are also made in Fidelity Wise Origin Bitcoin ETF and Grayscale’s Bitcoin Trusts, well-known names in the crypto and traditional finance industries. Strategic Investment Approach Marks Milestone for Institutional Bitcoin Adoption Goldman’s Bitcoin ETF portfolio comprises ETFs from major asset management firms, signaling a diversified strategy to mitigate risks while capitalizing on Bitcoin’s long-term growth potential. Alongside BlackRock’s IBIT, the portfolio includes other notable…

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Filed under: News - @ November 16, 2024 3:21 pm