US investment bank Goldman Sachs has increased its investments in Bitcoin ETFs to over $700 million, reflecting the financial sector's ongoing interest in cryptocurrencies.
Investments in Bitcoin ETFs
According to a filing with the US Securities and Exchange Commission, the bank's total investment in Bitcoin ETFs amounts to around $718 million. The largest holding is in BlackRock's IBIT, with Goldman Sachs investing $461 million. The bank has also allocated $96 million to Fidelity's fund, $72 million to Grayscale's ETF, and $60 million to Invesco Galaxy's fund.
Bitcoin Market Analysis
Bitcoin's price has dropped over 1% in the last 24 hours, but its weekly performance remains positive, with an increase of over 18%. These fluctuations occur amid growing market volatility in the crypto sector.
Traders' Opinions
Pseudonymous crypto analyst Rekt Capital stated that Bitcoin is still 'very early in its Parabolic Phase.' He emphasized the importance of maintaining a price level above $88,715.61 to avoid forming a new resistance zone.
Active investments by financial giants like Goldman Sachs in Bitcoin ETFs confirm growing confidence in the potential of cryptocurrencies, which in turn supports interest in long-term investments in this market.
