cryptojournalist
Goldman Sachs, the huge investment bank, is now a big player in Bitcoin, holding $710 million in Bitcoin exchange-traded funds (ETFs).
A Surge in Bitcoin ETF Investments
In a recent SEC filing on November 14, Goldman Sachs revealed it owns $718 million in Bitcoin ETFs. This includes a $461 million stake in BlackRock’s iShares Bitcoin Trust (IBIT). Since Q2 of 2024, the bank has added $300 million to its Bitcoin ETF portfolio, showing a 71% jump.
Breakdown of Goldman Sachs’ Bitcoin ETF Holdings
Here’s where their money’s going:
$461 million in BlackRock’s IBIT
$96 million in Fidelity’s Bitcoin Fund
$72 million in Grayscale’s Bitcoin Trust ETF
$60 million in Invesco’s Bitcoin ETF
They also have smaller amounts in ETFs like Bitwise and ARK 21Shares.
From Skepticism to Investment
Goldman Sachs’ move into Bitcoin ETFs is a major shift from its earlier stance. Back in 2020, the bank said Bitcoin wasn’t a legitimate asset class. Even when it started offering some crypto services in 2021, some executives still doubted it. But now, with these big investments, it’s clear Goldman Sachs is warming up to crypto.
