Finance

Goldman Sachs Reveals $418 Million in Bitcoin ETF Holdings

Aug 14, 2024 1 min read

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Goldman Sachs has disclosed a substantial position in Bitcoin exchange-traded funds (ETFs), amounting to $418.65 million as of June 30, according to its latest quarterly 13F filing with the US Securities and Exchange Commission (SEC). The firm holds nearly 7 million shares of BlackRock's iShares Bitcoin Trust (IBIT), making it the third-largest holder in the industry. Additionally, Goldman Sachs owns significant shares in other Bitcoin ETFs, including 1.51 million shares in Fidelity's FBTC, valued at $79.5 million, and 660,183 shares in Grayscale's converted Bitcoin fund, worth $35.1 million. The company also has investments in the Invesco Galaxy Bitcoin ETF, among others.

Goldman Sachs' diverse Bitcoin ETF portfolio includes $299,900 for 5,000 shares in the ARK 21Shares Bitcoin ETF, $8.3 million in the Bitwise Bitcoin ETF Trust, and a $749,469 position in the WisdomTree Bitcoin Fund. The bank's role as an authorized participant for BlackRock’s Bitcoin ETFs, along with Swiss investment bank UBS and American bank Citigroup, could potentially lead to significant inflows in the second half of the year. Mathew McDermott, Goldman Sachs’ global head of digital assets, remarked that the approval of spot Bitcoin ETFs represents a significant psychological turning point for the industry.

#markets #bitcoin #cryptocurrency #blockchain

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