The post Goldman Sachs Reveals Increased Holdings In Spot Bitcoin ETFs — Here’s How Much appeared on BitcoinEthereumNews.com.

Major investment bank Goldman Sachs has disclosed its significant stake in spot Bitcoin ETFs (exchange-traded funds). The finance behemoth, once a vocal Bitcoin critic, appears to be shifting its investment strategy towards crypto assets, specifically the world’s largest cryptocurrency by market capitalization. Goldman Sachs Discloses $461 Million In BlackRock’s Bitcoin ETF On Thursday, November 14, Goldman Sachs disclosed in a filing with the United States Securities and Exchange Commission (SEC) its holdings of about $718 million in eight Bitcoin ETFs. The firm’s latest quarterly report revealed that the bank has expanded its Bitcoin fund portfolio by $300 million. Goldman Sachs initially ventured into the United States Bitcoin ETF market earlier in 2024’s second quarter, unveiling a Bitcoin fund investment of $418 million. However, the BTC exchange-traded fund portfolio has grown by more than 71%, as it now stands at $718 million. According to the Nov 14 filing with the United States SEC, Goldman Sachs now holds $461 million in BlackRock’s spot Bitcoin ETF (with the ticker IBIT). The investment bank also revealed a $96 million holding in Fidelity’s Wise Origin Bitcoin Fund (with the ticker FBTC). Furthermore, Goldman Sachs disclosed $72 million in the Grayscale Bitcoin Trust ETF (GBTC) and roughly $60 million in the Invesco Galaxy Bitcoin exchange-traded fund. It is also worth mentioning the bank’s $22 million and $3 million investments in Bitwise’s Bitcoin fund and  Ark/21Shares’ ETF, respectively. Bitcoin ETFs were not the only crypto endeavors made by Goldman Sachs in the last quarter. The investment banking giant also dabbled in the recently launched spot Ethereum exchange-traded funds, including $22.6 million in Grayscale Ethereum Mini Trust ETF and $2.6 million in the Fidelity Ethereum Fund. While the spot Bitcoin exchange-traded funds have garnered significant attention and capital since launch, their Ethereum counterparts have largely struggled since hitting…

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Filed under: News - @ November 16, 2024 9:21 pm