US banking giant Goldman Sachs announced an increase in its positions in various spot Bitcoin and Ethereum ETFs. According to their 13F filing, the bank has significantly boosted its assets in these funds in the last quarter.
Increase in Bitcoin ETF Investments
Goldman Sachs increased its spot Bitcoin ETF assets by 114% in the 4th quarter of 2024, bringing them to over $1.5 billion. The bank purchased about $1.28 billion worth of shares in iShares Bitcoin Trust (IBIT), a 177% increase from Q3 figures, while Fidelity bought $288 million worth of shares in Wise Origin Bitcoin Fund (FBTC), a 105% increase from the previous quarter.
Growth in Ethereum ETF Holdings
Additionally, Goldman Sachs significantly increased its investment in Ethereum. The bank increased its spot ETH ETF assets by 2,000%, now totaling $476 million from $22 million. The vast majority of those assets were split evenly between BlackRock’s ETHA and Fidelity’s FETH, while $6.3 million was invested in Grayscale’s ETHE.
Closure of Positions in Other ETFs
According to this information, Goldman Sachs also closed its positions in Bitwise, WisdomTree, Invesco Galaxy, ARK, and 21Shares Bitcoin ETFs.
Goldman Sachs' increased investment in Bitcoin and Ethereum ETFs demonstrates a continued interest from the major financial institution in these assets, despite current market conditions.
