Goldman Sachs Discloses $1.1 Billion Position in Bitcoin ETF Holdings 

Goldman Sachs has revealed a significant expansion of its cryptocurrency holdings, reporting total crypto exposure of about $2.36 billion, with $1.1 billion specifically held in BlackRock's iShares Bitcoin Trust ETF (IBIT). This substantial position in Bitcoin ETFs marks a major shift from the investment bank's previous skepticism toward digital assets. Filings also showed smaller holdings in Fidelity's Wise Origin Bitcoin Fund, American Bitcoin, and Bitcoin Depot, along with options on IBIT. Goldman Sachs' entry into Bitcoin began with tentative steps like BTC-backed loans in 2022, contrasting with earlier executive distancing from Bitcoin as an investable asset class. This accumulation follows earlier 2024 filings revealing initial meaningful ETF holdings, which had previously tripled to around $1.5 billion. The disclosure comes as Bitcoin has struggled to maintain the $70,000 level, experiencing a sharp selloff before rebounding, leaving overall market sentiment bearish.

(Source：Bitcoin Magazine)