February 2025 data reveals significant growth in Goldman Sachs' investments in Ethereum and Bitcoin ETFs.
Growth of Goldman Sachs' Ethereum ETF Investments
According to SEC filings dated February 11, Goldman Sachs increased its holdings in Ethereum ETFs by 2000%, reaching $476 million. These investments are equally split between BlackRock's iShares Ethereum Trust and Fidelity Ethereum Fund. Additionally, the bank holds $6.3 million in Grayscale Ethereum Trust.
Investments in BlackRock and Fidelity Bitcoin ETFs
The same report indicates that Goldman Sachs also purchased shares in BlackRock's iShares Bitcoin Trust worth $1.28 billion, marking a 177% increase in investment bank’s exposure to the fund compared to the third quarter of 2024. In addition, the bank bought shares in Fidelity's Wise Origin Bitcoin Fund totaling $288 million.
Bitcoin ETF Outflows Situation
The filing occurs amid ongoing outflows from U.S. Bitcoin ETFs. Specifically, data shows $186.3 million outflows on February 10, with another $56.7 million leaving the funds the following day. However, BlackRock's iShares Bitcoin Trust was the only fund to record net inflows yesterday, receiving an additional $23.8 million.
Goldman Sachs shows a confident increase in investments in cryptocurrency ETFs despite current market conditions, signaling potential long-term trust in the sector's development.
