Goldman Sachs Reveals $420M Exposure to Bitcoin ETFs in Latest 13F Filing

As a seasoned financial analyst with over two decades of experience in the industry, I’ve seen my fair share of market trends come and go. However, the recent disclosure by Goldman Sachs of their substantial holdings in various Bitcoin ETFs has caught my attention like never before.


Goldman Sachs, a well-known American investment bank, has revealed substantial investments in Bitcoin ETFs during the second quarter of 2024. This information was initially reported by Macroscope’s X account, based on Goldman Sachs’ 13F filing – a report mandated by the U.S. Securities and Exchange Commission (SEC).

As per the filing, Goldman Sachs has significant investments in seven distinct Bitcoin ETFs listed in the U.S. market. The largest of these holdings is approximately 6.99 million shares of BlackRock’s IBIT fund, valued at around $238 million. This positions Goldman Sachs as the third-largest holder of the IBIT fund, with Millennium Management and Capula Management Ltd holding more shares.

Beyond just IBIT, Goldman Sachs has spread its Bitcoin investments across various ETFs as well. The bank owns around 1.51 million shares of Fidelity’s Bitcoin ETF (FBTC), which equates to roughly $80 million. Some other significant holdings include a $56 million stake in Invesco Galaxy’s BTCO, a $35 million stake in Grayscale’s GBTC, and an $8.3 million investment in Bitwise’s BITB. Goldman Sachs has also put over $1 million into WisdomTree’s BTCW and Ark Investment Management’s ARKB.

As a seasoned investor with a penchant for staying ahead of market trends, I have closely watched Goldman Sachs’ evolving approach towards Bitcoin. My personal journey has taught me that the world’s financial powerhouses don’t hesitate to adapt to new opportunities, and this move by Goldman Sachs is no exception. Their decision to boost their exposure to Bitcoin through various ETFs underscores their strategic shift in a regulated direction, a choice that aligns with my belief that smart money follows the path of innovation. This maneuver not only validates the growing influence of Bitcoin but also signifies an exciting new chapter for both Goldman Sachs and the crypto market at large.

Rising Institutional Interest

As an analyst, I’ve observed that the significant holdings of Bitcoin ETFs by Goldman Sachs is indicative of a broader movement: institutional investment in Bitcoin is on the rise. Over 500 institutional investors have committed substantial resources to Bitcoin ETFs, underscoring this trend.

More recently, it came to light that Capula Investment Management has also revealed its involvement in Bitcoin Spot Exchange-Traded Funds (ETFs). The company is reported to have invested approximately $464 million into these funds during Q2 of 2024, as detailed in their filing with the Securities and Exchange Commission (SEC).

IBIT’s Dominance

Among Exchange-Traded Funds (ETFs), BlackRock’s IBIT has shown exceptional performance. Notably, Nate Geraci, a well-respected figure in the ETF industry, mentioned on X that IBIT has drawn approximately $20.5 billion this year. This significant amount sets it far apart from other new ETF launches, with the next most successful non-Bitcoin ETF lagging significantly behind at only $1.3 billion.

Over the past few days, following a sequence of outflows last week, the Bitcoin ETF market has been picking up speed. Specifically, on Monday and Tuesday, these funds experienced inflows totaling approximately $27.8 million and $39 million respectively.

The increase in investments for Bitcoin ETFs is happening at the same time as a general rise in Bitcoin’s value. Over the past day, Bitcoin has seen an approximately 3.5% increase and is currently being traded near $61,000. This upward trend occurs as the market looks forward to the upcoming U.S. Consumer Price Index (CPI) inflation data, which may affect Bitcoin’s future price trends.

Watching as more big investors reveal their holdings in Bitcoin Spot ETFs will surely make for an interesting spectacle, as we anticipate the impact these investments might have on Bitcoin’s future.

Read More

Sorry. No data so far.

2024-08-14 13:01