Key Takeaways
- Goldman Sachs significantly increases its Bitcoin ETF holdings, adding $300M since Q2 2024, marking a 71% growth.
- The bank now holds $718M across eight Bitcoin ETFs, with $461M invested in BlackRock’s iShares Bitcoin Trust ETF.
- In 2020, Goldman Sachs dismissed Bitcoin as 'not an asset class' and unsuitable for its clients.
Goldman Sachs Expands Bitcoin ETF Investments
Goldman Sachs has increased its Bitcoin ETF holdings by $300M since Q2 2024, reflecting a 71% growth in holdings.
The bank now holds $718M across eight Bitcoin ETFs, making it a significant player in the Bitcoin ETF market.
Major investments include $461 million in BlackRock’s iShares Bitcoin Trust ETF and $96 million in Fidelity’s Wise Origin Bitcoin Fund.
Broader Exposure to Bitcoin Funds
Goldman Sachs has diversified its portfolio with investments in other Bitcoin ETFs, including Grayscale and Invesco Galaxy funds.
Additional Bitcoin ETF holdings include $22.5M in Bitwise and $3M in the ARK 21Shares Bitcoin ETF.
Shifting Perspective on Bitcoin
Goldman Sachs, once a critic of Bitcoin, now holds significant investments in Bitcoin ETFs, signalling a shift in their stance about it..
In 2020, Goldman Sachs dismissed Bitcoin as 'not an asset class' and unsuitable for its clients.
Despite skepticism from some executives, the bank has embraced Bitcoin as part of its investment strategy.
