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Goldman Sachs significantly increased its investments in Bitcoin exchange-traded funds as revealed in the most recent 13F filings. These filings which offer a peek into the strategies of the world’s top portfolios show that the banking titan is betting big on cryptocurrency. By the end of 2024 Goldman owned a whopping $1.27 billion in shares of the iShares Bitcoin Trust ETF managed by BlackRock.
This acquisition marks an 88% surge in the shares held compared to the previous quarter. The iShares Bitcoin Trust ETF is notable for being the largest spot Bitcoin ETF by assets under management. Goldman’s commitment to crypto doesn’t stop there; the bank also boosted its stakes in the Fidelity Wise Origin Bitcoin Fund with holdings now valued at $288 million.
This move represents a 105% increase in shares from the earlier period illustrating a robust confidence in Bitcoin’s potential. The financial giant also adjusted other Bitcoin ETF positions some of which saw reductions or were dissolved altogether. These strategic investments underscore Goldman Sachs’s bullish outlook on the future of digital currencies.
