- Goldman Sachs increased its investment in Bitcoin ETFs by 88% in Q4 2024, holding $1.27 billion in BlackRock’s iShares Bitcoin Trust ETF.
- The firm also acquired $288 million worth of shares in the Fidelity Wise Origin Bitcoin Fund, a 105% rise from the previous quarter.
- This strategic move highlights growing institutional confidence in BTC and could influence other financial giants to follow suit.
In an unexpected but strategic development, Goldman Sachs significantly ramped up its exposure to Bitcoin exchange-traded funds (ETFs) during the fourth quarter of 2024. The investment bank behemoth’s recent 13F filing with the U.S. Securities and Exchange Commission (SEC) shows a radical shift in its portfolio strategy, demonstrating heightened confidence in the digital asset space.
As of December 31, Goldman Sachs held a staggering $1.27 billion—24.07 million shares—of BlackRock’s iShares Bitcoin Trust ETF (IBIT). This solidifies IBIT’s position as the largest spot Bitcoin ETF by assets under management. Goldman’s holding in IBIT increased 88% from the previous quarter, a big endorsement of BTC’s long-term value.
BTC has been on a roller-coaster recently, but Goldman’s aggressive accumulation suggests the firm is anticipating a bull run. With the approval of spot Bitcoin ETFs gaining momentum globally, institutional interest is heating up.
Goldman Sachs didn’t stop at BlackRock. The banking giant also increased its investment in the Fidelity Wise Origin Bitcoin Fund (FBTC), purchasing $288 million worth of shares, or 3.5 million units. That represents a whopping 105% increase from the last quarter.
The Fidelity Wise Origin BTC Fund has led the way in institutional BTC adoption, and Goldman’s larger stake illustrates the fund’s growing role. This strategic diversification indicates Goldman’s confidence not just in one ETF provider but in the broader institutional adoption of BTC.
Goldman Sachs Doubles Down on Bitcoin ETFs
Goldman’s 13F filing revealed smaller Bitcoin ETF positions that were trimmed or fully liquidated, emphasizing the bank’s selective yet substantial focus on the two largest spot Bitcoin ETFs. The tactical change might be interpreted as a strategic bet on market leaders, leveraging their liquidity and institutional credibility.
13F filings offer a rare window into the investment tactics of leading money managers. As required by the U.S. Securities and Exchange Commission, institutional investment managers who manage at least $100 million in equity assets must file the reports within 45 days of the close of each quarter.
For market watchers, these filings are a treasure trove of insights, revealing where influential investors are placing their bets. Goldman’s latest 13F shows a decisive move towards BTC, validating the narrative of digital assets becoming mainstream in institutional finance.
Goldman Sachs’ increased exposure to Bitcoin ETFs is a bullish sign for the cryptocurrency universe. It reflects growing institutional confidence in BTC as an asset class and could encourage other major financial actors to follow suit.”
The timing, amid regulatory advancement and with investor demand for spot BTC ETFs on the increase, suggests that Goldman is not merely hedging its bets but rather positioning for long-term profits.
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