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Goldman Sachs Invests $710 Million in Bitcoin ETFs, Significantly Boosts Holdings in BlackRock's iShares Bitcoin Trust

Goldman Sachs Invests $710 Million in Bitcoin ETFs, Significantly Boosts Holdings in BlackRock's iShares Bitcoin Trust

Goldman Sachs has made a big move in the world of Bitcoin ETFs. According to their latest filing with the U.S. Securities and Exchange Commission, they’ve invested a whopping $710 million in various Bitcoin exchange-traded funds this quarter.

This filing, known as a 13F, is a regular report that institutional investors must submit when they manage over $100 million in assets. It shows just how serious Goldman is about digital assets.

One of the highlights is Goldman’s significant stake in BlackRock's iShares Bitcoin Trust (IBIT). They own 12.7 million shares, valued at $461 million. That's an 83% increase from their August holdings of 6.9 million shares, which were valued at $281 million. This makes Goldman the second-largest holder of IBIT, right behind Millennium Management, which leads with $844 million.

Goldman didn’t stop there. They also boosted their positions in other major Bitcoin ETFs:

  • Fidelity's Wise Origin Bitcoin ETF (FBTC): 1.7 million shares worth $95.5 million, a 13% rise.
  • Grayscale Bitcoin Trust (GBTC): 1.4 million shares valued at $71.8 million, a remarkable 116% increase.
  • Bitwise Bitcoin ETF (BITB): 650,961 shares worth $22.5 million, showing a 156% rise.

They also hold smaller stakes in Bitcoin ETFs from Invesco Galaxy, WisdomTree, and ARK 21Shares.

This expansion comes at a time when there are record inflows into spot Bitcoin ETFs. In fact, BlackRock's IBIT has recently surpassed the iShares Gold ETF (IAU) in net assets. This is impressive, especially since IBIT just launched in January.

The growing momentum aligns with a more positive outlook for cryptocurrencies, especially with the incoming Trump administration. They’ve expressed support for crypto mining and even a national Bitcoin reserve.

Goldman Sachs’ aggressive investments in Bitcoin ETFs highlight a changing landscape for digital assets. It shows that institutional investors are increasingly viewing cryptocurrency as a mainstream asset class.