Goldman Sachs owns more than $710m in Bitcoin ETF

Goldman Sachs’ latest SEC filing revealed that the global investment firm holds approximately $718 million worth of shares in eight Bitcoin ETFs.

According to Goldman Sachs‘ 13F report filed with the United States Securities and Exchange Commission on Nov. 14, the investment bank holds around 12.7 million shares worth more than $461 million in BlackRock’s iShares Bitcoin(BTC) Trust.

In addition, Goldman Sachs holds more than 1.7 million shares in Fidelity Wise Origin Bitcoin ETF, which is worth $95.5 million. It also owns more than 1.4 million Grayscale Bitcoin Trust ETF shares with a market value of $72 million and 940,443 shares in Invesco Galaxy Bitcoin ETF, which is worth nearly $60 million.

Moreover, Goldman Sachs currently has $22.5 million worth of Bitwise Bitcoin ETF shares, $3.8 million in the ARK 21Shares Bitcoin ETF, nearly $4 million in the Grayscale Bitcoin Mini Trust ETF, and around $791,852 in the WisdomTree Bitcoin Fund.

Aside from the firm’s Bitcoin ETF investments, Goldman Sachs also invested $22 million in Ether(ETH) ETFs, $22.6 million in Grayscale Ethereum Mini Trust ETF and $2.6 million in the Fidelity Ethereum Fund.

Since the bank’s previous 13F filing for the second quarter of 2024 in August, Goldman Sachs has invested an additional $300 million into its Bitcoin ETF shares. Back then, the investment bank only had around 7 million shares, worth more than $238 million in BlackRock’s iShares Bitcoin Trust as well as other smaller investments in other Bitcoin-related ETFs.

Goldman Sachs was once known as a crypto-resistant investment firm. Its chief investment officer Sharmin Mossavar-Rahmani stated that she did not view crypto as an investment asset class. She went as far as to say that Goldman Sachs were “not believers in crypto.”

However, now the bank has warmed up to the idea of investing in digital assets since crypto ETFs sprouted on the market. Not only that, Goldman Sachs has even opened itself up to more crypto-related endeavors.

Most recently in July, Goldman Sachs announced it would launch three tokenization projects by the end of the year as part of its efforts to expand its business into digital assets.

In June 2021, Goldman Sachs began joining funding rounds for Blockchain infrastructure provider Blockdaemon. The investment firm continued to support the project in its series B funding which raised around $155 million.