Goldman Sachs Holds $710M in Bitcoin ETF

Goldman Sachs holds over $710 million in Bitcoin ETFs, including major stakes in BlackRock’s iShares Bitcoin Trust, Fidelity Wise Origin Bitcoin ETF, and Grayscale Bitcoin Trust.

The investment bank, Goldman Sachs, possesses approximately 12.7 million shares in BlackRock’s iShares Bitcoin Trust, valued at over $461 million, according to its 13F report submitted to the United States Securities and Exchange Commission on November 14.

In addition, Goldman Sachs owns over 1.7 million shares of the Fidelity Wise Origin Bitcoin ETF, which is valued at $95.5 million. In addition, it holds 940,443 shares of Invesco Galaxy Bitcoin ETF, which are valued at nearly $60 million, and over 1.4 million shares of Grayscale Bitcoin Trust ETF, which have a market value of $72 million.

Additionally, Goldman Sachs presently holds $22.5 million in Bitwise Bitcoin ETF shares, $3.8 million in the ARK 21Shares Bitcoin ETF, nearly $4 million in the Grayscale Bitcoin Mini Trust ETF, and approximately $791,852 in the WisdomTree Bitcoin Fund.

Goldman Sachs investment in Bitcoin ETF

Goldman Sachs invested $22 million in Ether ETFs, $22.6 million in Grayscale Ethereum Mini Trust ETF, and $2.6 million in the Fidelity Ethereum Fund, in addition to its Bitcoin ETF investments.

Goldman Sachs has increased its investment in Bitcoin ETF shares by $300 million since its August 13F filing for the second quarter of 2024. At that time, the investment bank held approximately 7 million shares, which were valued at over $238 million, in BlackRock’s iShares Bitcoin Trust and other lesser investments in other Bitcoin-related ETFs.

Goldman Sachs was previously recognized as an investment firm that was resistant to cryptocurrency. Sharmin Mossavar-Rahmani, the chief investment officer, declared that she did not regard cryptocurrency as an investment asset class. She even stated that Goldman Sachs was “not a believer in crypto.”

Nevertheless, the bank has recently become more open to the prospect of investing in digital assets as a result of the emergence of crypto ETFs on the market. Not only that, but Goldman Sachs has also expanded its involvement in cryptocurrency-related projects.

In July, Goldman Sachs announced that it would introduce three tokenization initiatives by the end of the year as part of its endeavors to diversify its business into digital assets.

Goldman Sachs initiated participation in funding rounds for Blockdaemon, a provider of blockchain infrastructure, in June 2021. The initiative received ongoing support from the investment firm in its series B funding, which generated approximately $155 million.