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Goldman Sachs has unveiled a massive Bitcoin exposure. The banking giant boosted its BTC ETF stash by over 120% in the fourth quarter of 2024. For investors and market observers, the ninth-largest investment bank in the world increasing its Bitcoin ETF holdings is a strong indicator that institutional interest in digital assets is gaining momentum. Goldman Sachs Ups Its Bitcoin ETF Exposure Goldman Sachs has significantly expanded its Bitcoin ETF holdings. According to its latest 13F filing with the U.S. Securities and Exchange Commission (SEC), Goldman Sachs now holds $1.57 billion across various Bitcoin ETFs, up 121.1% from the $710 million posted in Q3. The Wall Street giant’s largest exposure lies in BlackRock’s iShares Bitcoin Trust (IBIT) — the largest spot Bitcoin ETF by assets under management — where it now holds 24.07 million shares worth $1.28 billion, a roughly 177% increase in shares from Q3. The filing also shows Goldman boosting its positions in other leading Bitcoin ETFs. The bank added $288 million worth of shares to Fidelity’s Wise Origin Bitcoin ETF (FBTC), marking a 105% rise. Goldman also owns $3.6 million worth of the Grayscale Bitcoin Trust (GBTC). Ethereum also witnessed a surge in the bank’s portfolio, with the firm increasing its ETH ETF exposure to $476 million, up from $22 million in the previous quarter — a roughly 19-fold growth. The bank now holds $235 million in ETH through Fidelity’s FETH and $236 million through BlackRock’s ETHA, diversifying its crypto portfolio. The boost in Bitcoin and Ethereum exposure is, in part, because of the increase in market prices, as Bitcoin saw a 41% jump, while Ethereum surged 26% from the beginning to the end of the fourth quarter, according to CoinGecko data. Goldman Sachs had previously lambasted Bitcoin and the wider crypto market since 2020, asserting that cryptocurrencies are not an asset class and that they are not a “suitable investment” for its clients. The bank’s recent investment in Bitcoin and Ether ETFs underscores the growing trend of institutional crypto adoption on Wall Street, spurred by an increasingly favorable regulatory backdrop under President Donald Trump’s regime, with promises to support crypto mining and create a national Bitcoin reserve.

In a recent 13F filing, Goldman Sachs disclosed increasing its Bitcoin holdings in the last quarter of 2024. The major growth of the BTC portion in the bank’s portfolio was immediately noticeable compared to the previous quarter. A 13F filing is a quarterly report mandated by the SEC from institutional investment firms with over $100 million in assets under management. These filings provide transparency into the holdings of major market investors like Goldman Sachs’ $1.58B in Bitcoin ETF holdings across the BlackRock iShares Bitcoin Trust (IBIT) and Wise Origin Bitcoin Trust (FBTC). Disclosing these holdings gives insight into investment strategies and portfolio adjustments. Goldman Sachs’ Bitcoin ETF holdings Goldman Sachs recent filing with the Securities and Exchange Commission (SEC) showed that the bank’s Bitcoin related ETF holdings as of December 31 were significantly higher than they were in the previous Q3 2024. The bank’s Bitcoin holdings have been on a steady upward trend despite its CEO’s skepticism of digital assets. These increases are notable within BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Trust (FBTC). Goldman Sachs holds approximately $1.27B in IBIT, equivalent to 24,077,861 shares. This represents an 88% increase in shares compared to the previous quarter’s filing of 12.7 million shares worth $461M which covered July through September. The bank’s investment in FBTC increased to $288M, totaling 3,530,486 shares. This represents a 105% increase from the prior quarter. There was also a 97% decrease in the GBTC shares held by the bank. Goldman Sachs’ strategic options position The 13F filing also revealed Goldman Sachs’ engagement in options strategies related to its Bitcoin ETF holdings. As of December 31, the bank held $760M in options trading positions through spot ETFs. A breakdown of the $760M shows an IBIT call position valued at $157 million, an IBIT put position valued at $527 million, and an FBTC put position worth $84 million. In addition to these positions, the 13F filing also showed that the bank decreased or closed several smaller Bitcoin ETF holdings. ARK 21Shares’ ARKB, Bitwise’s BITB, Grayscale’s mini Bitcoin trust, Invesco Galaxy’s BTCO, and Wisdom Tree’s BTCW were all closed. This could be Goldman Sachs’ attempt at strategically consolidating its cryptocurrency-related investments. Earlier this year, the bank reported that its net revenue for the last quarter of 2024 was $13.8B, while its net earnings for the fourth quarter were $4.11B. The CEO of Goldman Sachs, David Solomon, criticized Bitcoin before, saying it was a threat to the US dollar’s dominance. However, he has since turned to emphasizing the need for regulatory changes with his bank’s increased exposure to Bitcoin. Cryptopolitan Academy: How to Write a Web3 Resume That Lands Interviews - FREE Cheat Sheet

The total net asset value of Bitcoin spot ETF is US$114.706 billion, with a cumulative net inflow of US$40.67 billion According to SoSoValue data, yesterday (February 5, EST), the total net inflow of Bitcoin spot ETFs was $66.3761 million. Yesterday, Grayscale ETF GBTC had a n…

Bitcoin spot ETF had a total net inflow of US$341 million yesterday, and the ETF net asset ratio reached 5.93% According to SoSoValue data, yesterday (February 4, Eastern Time), the total net inflow of Bitcoin spot ETFs was $341 million. Yesterday, Grayscale ETF GBTC had a sin…

Yesterday, ARKB had a net inflow of US$56.1 million and GBTC had a net inflow of US$19.5 million According to Farside Investors data, ARKB had a net inflow of US$56.1 million, BITB had a net inflow of US$16.1 million, and GBTC had a net inflow of US$19.5 million yesterday. #Bi…