Financial Insights That Matter
Goldman Sachs, one of the largest investment banks in the world, has significantly increased its Bitcoin exchange-traded fund (ETF) holdings, according to its latest 13F filing with the U.S. Securities and Exchange Commission (SEC).
The filing dated Feb. 12 which covers the fourth quarter of 2024, reveals that the firm now holds $1.27 billion in the iShares Bitcoin Trust ETF (IBIT), totaling 24,077,861 shares.
This marks an 88% increase from its previous filing covering July to September 2024. The iShares Bitcoin Trust ETF allows institutional investors to gain exposure to Bitcoin without directly holding the cryptocurrency.
Additionally, Goldman Sachs disclosed a $288 million stake in the Fidelity Wise Origin Bitcoin Fund (FBTC), amounting to 3,530,486 shares — a 105% increase compared to the previous quarter.
The Fidelity Wise Origin Bitcoin Fund also tracks Bitcoin’s price movements, offering institutional investors a regulated way to invest in the digital asset.
The filing also showed that Goldman Sachs adjusted its crypto exposure by reducing or closing some smaller Bitcoin ETF positions. However, the firm reported holding IBIT call options valued at $157 million, IBIT put options worth $527 million, and FBTC put options valued at $84 million as of December 31, 2024.
Bitcoin spot ETFs recorded total outflows of $186.3 million on Feb. 10, with some of the biggest exits coming from Fidelity Wise Origin Bitcoin Fund (FBTC) at $136.1 million, ARK 21Shares Bitcoin ETF (ARKB) at $34.0 million, and Grayscale Bitcoin Trust (GBTC) at $46.3 million, according to data Farside Investors.
Other ETFs, including Valkyrie Bitcoin Fund (BRRR) and VanEck Bitcoin Trust (HODL), also saw outflows, albeit on a smaller scale. The weekly data noted that the largest single-day outflows occurred on Feb. 3, totaling $234.4 million.
Since their launch, BlackRock’s iShares Bitcoin Trust (IBIT) has amassed 40,850 BTC, while Fidelity’s FBTC holds 12,644 BTC, and Bitwise Bitcoin ETF (BITB) has 2,315 BTC. However, Grayscale’s GBTC continues to see persistent outflows, now totaling 21,952 BTC, as investors rotate into lower-fee alternatives.
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