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Goldman Sachs has disclosed a substantial investment in Bitcoin exchange-traded funds (ETFs), totaling $418.65 million as of June 30. This information came from the firm’s latest 13F filing with the U.S. Securities and Exchange Commission (SEC). The 13F report provides a snapshot of what major investors own and is closely watched by market observers.
Out of its Bitcoin ETF investments, Goldman Sachs has a substantial stake in BlackRock’s iShares Bitcoin Trust, or IBIT. It owns approximately 6.9 million stocks in the firm from the Institute of Building Information and Technology, estimated at $238.6 million. This makes Goldman Sachs the third largest holder of IBIT, after Millennium Management, which holds approximately $844 million worth of IBIT, and Capula Management, holding about $253 million.
However, the investment made by Goldman Sachs is not only confined to investing in IBIT but has diversified into several varieties. It also owns 1.51 million FBTC, Fidelity’s Bitcoin funds, which are valued at $79.5 million. They also have over 660000 shares in Grayscale’s Bitcoin ETF with an estimated worth of $35 million. Goldman Sachs also owns $56.1 million worth of this Invesco Galaxy Bitcoin ETF.
Goldman Sachs’ Large Bitcoin ETF Holdings Reflect Bullish Crypto Outlook
Their holdings do not end there. Goldman Sachs has investments in three other Bitcoin ETFs: Ark21, Bitwise, and WisdomTree. While the exact value of these holdings was not specified, they contribute to the overall $418.65 million total disclosed in their SEC filing.
The timing of this disclosure cannot be dismissed. In fact, there has not been much movement on Bitcoin ETFs lately, especially compared to earlier in the year, which makes Goldman Sachs’ move notable. The firm’s large exposure to Bitcoin ETFs further establishes its confidence in cryptocurrencies and its continued pursuit of a dominant position within the crypto space.
Ultimately, Goldman Sachs’ significant stake in multiple Bitcoin ETFs signals its bullish outlook on the cryptocurrency industry and clearly demonstrates that it is one of the major players in the fast-evolving market for digital currencies.