- Goldman Sachs’s latest 13F filing revealed $418 million in Bitcoin ETF holdings, which shows increased institutional adoption.
- The bank’s largest Bitcoin ETF investment is in BlackRock’s iShares Bitcoin Trust, valued at $238.6 million.
- Bitcoin ETFs have seen explosive growth in 2024, with iShares Bitcoin ETF alone attracting $20.5 billion in inflows.
Goldman Sachs has unveiled its Bitcoin ETF investments, signalling a strong shift toward digital assets. The banking giant disclosed holdings of $418 million in various Bitcoin-related ETFs in its latest quarterly 13F filing, covering the quarter ending June 30. This report reveals the bank’s growing involvement in Bitcoin investments.
Major Holdings in Bitcoin ETFs Unveiled
The filing highlights a major position in BlackRock’s iShares Bitcoin Trust, valued at $238.6 million, comprising 6,991,248 shares. Besides this, Goldman Sachs also holds $79.5 million in the Fidelity Bitcoin ETF and $35.1 million in the Grayscale Bitcoin Trust. Moreover, the bank invested $56.1 million in the Invesco Galaxy Bitcoin ETF, further emphasizing its confidence in the digital asset space.
Smaller positions include $8.3 million in the Bitwise Bitcoin ETF, $749,469 in the WisdomTree Bitcoin ETF, and $299,900 in the ARK 21Shares Bitcoin ETF. These investments mark a notable departure from the traditional scepticism that once characterized the financial industry’s approach to digital assets.
2024 Sees Surging Bitcoin ETF Adoption
Institutional adoption of Bitcoin ETFs has surged in 2024. Consequently, according to Nate Geraci, President of the ETF Store, the iShares Bitcoin ETF alone attracted $20.5 billion in cumulative net inflows this year. This influx surpasses the closest non-spot Bitcoin ETF, which received only $1.3 billion in inflows.
https://x.com/NateGeraci/status/1823539167122378998
Subsequently, the top four ETF launches of 2024 include iShares Bitcoin ETF, Fidelity Bitcoin ETF, ARK 21Shares Bitcoin ETF, and Bitwise Bitcoin ETF, according to data from SoSoValue. This trend reflects a broader acceptance of Bitcoin ETFs among institutional investors, including financial giants like Goldman Sachs.
This disclosure underscores Goldman Sachs’ evolving strategy toward integrating Bitcoin into its financial products, aligning with the broader trend in the financial industry. Hence, the bank’s increasing Bitcoin ETF holdings represent a notable development in institutional cryptocurrency adoption.
