Key Takeaways
- Goldman Sachs now holds $1.56 billion in Bitcoin ETFs.
- The agency added $760 million in Bitcoin ETF choices buying and selling.
- Bitcoin ETFs now have a complete market cap of $114 billion.
Goldman Sachs has considerably elevated its Bitcoin ETF investments, in accordance with its newest SEC submitting, holding over $1.56 billion in these funds as of December 31, 2024—a 120% enhance from the earlier quarter.
The financial institution has additionally reported a further $760 million publicity to Bitcoin ETF choices, additional deepening its involvement available in the market.
BlackRock & Constancy holdings
Goldman’s largest funding is in BlackRock’s iShares Bitcoin Belief (IBIT), the place it holds 24.07 million shares valued at $1.27 billion, marking an 88% enhance from the prior quarter.
The agency additionally doubled its place in Constancy’s Clever Origin Bitcoin Belief (FBTC) to $288 million—a 105% leap.
Portfolio changes
On the identical time, Goldman exited smaller Bitcoin ETFs, together with ARK 21Shares’ ARKB, Bitwise’s BITB, Invesco Galaxy’s BTCO, and WisdomTree’s BTCW, suggesting a extra centered funding technique in essentially the most liquid Bitcoin merchandise.
Choices technique
The financial institution additionally expanded into Bitcoin ETF choices, with $527 million in IBIT put choices and $157 million in IBIT name choices, permitting it to hedge threat and capitalize on market actions.
These positions had been taken throughout a interval of maximum volatility, when Bitcoin hit an all-time excessive of $109,000 earlier than the U.S. Presidential inauguration.
CEO stance
Whereas Goldman Sachs CEO David Solomon stays cautious, calling Bitcoin an “attention-grabbing speculative asset”, the agency’s growing publicity aligns with a broader institutional shift towards Bitcoin investments.
Market influence
Different main banks, together with Morgan Stanley and Financial institution of America, have additionally begun buying Bitcoin ETFs for purchasers.
With Bitcoin ETF property surpassing $114 billion—led by BlackRock’s IBIT at $56.5 billion—Wall Avenue’s engagement in Bitcoin continues to develop.