Goldman Sachs has made a big move by increasing its Bitcoin ETF holdings. Their latest 13F filing with the U.S. Securities and Exchange Commission (SEC) shows they now hold $710 million across various Bitcoin exchange-traded funds.
A 13F filing is a quarterly report that institutional investment managers must submit if they manage over $100 million in assets. This expansion in Bitcoin ETFs signals growing interest from big players in the digital asset space.
The largest chunk of Goldman’s investment is in BlackRock’s iShares Bitcoin Trust (IBIT). They own 12.7 million shares valued at $461 million. That’s an impressive 83% increase from their previous filing in August, where they held 6.9 million shares worth $281 million.
With this increase, Goldman Sachs is now the second-largest holder of IBIT, right behind Millennium Management, which has $844 million in holdings. The filing also reveals that Goldman has boosted its positions in other major Bitcoin ETFs. They now own over 1.7 million shares in Fidelity’s Wise Origin Bitcoin ETF (FBTC), worth $95.5 million, marking a 13% rise.
Goldman has also increased its stake in the Grayscale Bitcoin Trust (GBTC) by 116%, bringing its holdings to over 1.4 million shares valued at $71.8 million. Their investments in the Bitwise Bitcoin ETF (BITB) have surged by 156%, totaling 650,961 shares worth $22.5 million. They also reported smaller stakes in Invesco Galaxy, WisdomTree, and ARK 21Shares Bitcoin ETFs.
This surge in Goldman’s Bitcoin ETF investments comes at a time when spot Bitcoin ETFs are seeing record inflows. Just last week, BlackRock’s IBIT surpassed the long-established iShares Gold ETF (IAU) in net assets, which is quite an achievement since IBIT only launched in January. This market rally is linked to expectations of a supportive regulatory environment for cryptocurrencies under the Trump administration, which has promised to back crypto mining and create a Bitcoin reserve.