In its latest 13F report, Goldman Sachs revealed an increase in its Bitcoin ETF exposure to $2.3 billion, a $710 million growth compared to the fourth quarter of 2024.
Current Bitcoin ETF Exposure of Goldman Sachs
The majority of Goldman Sachs' Bitcoin exposure is through the iShares Bitcoin Trust (IBIT), which accounts for approximately $1.9 billion. The bank also holds $374 million in shares of the Fidelity Wise Origin Bitcoin Fund (FBTC) and has negligible exposure to the Grayscale Bitcoin Trust ETF (GBTC).
Company Leadership's Opinion on Bitcoin
In a recent CNBC interview, Goldman Sachs CEO David Solomon described Bitcoin as an 'interesting speculative asset'. He also noted that cryptocurrency doesn't pose a threat to the U.S. dollar. According to Solomon, the bank cannot hold cryptocurrencies due to regulatory constraints.
Investment History and Other Market Players
Goldman Sachs first disclosed holding $418 million worth of Bitcoin ETFs last August. Prior to this, Sharmin Mossavar-Rahmani, CIO of Asset & Wealth Management, stirred controversy by stating that the bank did not consider Bitcoin an investment asset class. Other major banks like Morgan Stanley and Bank of America have also purchased shares of spot Bitcoin ETFs.
Goldman Sachs' disclosure of significant Bitcoin ETF exposure highlights the increasing interest of financial institutions in cryptocurrencies despite regulatory constraints.
