Goldman Sachs' Bitcoin ETF Holdings Explode to $1.5 Billion

Renowned crypto analyst MacroScope (@MacroScope17) first drew attention to the filing, highlighting how Goldman had "reported $1.27 billion IBIT (24,077,861 shares)...an 88% increase" in its stake in BlackRock's iShares Bitcoin Trust (IBIT) compared to the previous quarter.

Goldman Sachs’ Holdings in Bitcoin ETF Surged to $1.5 Billion

Institutions continue to show strong interest in cryptocurrencies, evident in Goldman Sachs’ massive holdings in spot Bitcoin exchange-traded funds (ETFs) which amounted to over $1.5 billion at the end of 2024, according to the latest 13F filing with the US Securities and Exchange Commission (SEC).

The filing revealed a significant expansion in both BTC and Ethereum-related positions, reflecting growing institutional confidence in digital assets. Notably, the bank increased its stake in BlackRock’s iShares Bitcoin Trust (IBIT) by an impressive 88%, with holdings valued at about $1.27 billion (24,077,861 shares).

Moreover, Goldman boosted its allocation to Fidelity’s Wise Origin Bitcoin Fund (FBTC) by 105%, bringing that position to around $288 million (3,530,486 shares).

In addition to these core ETF holdings, Goldman reported $3.6 million in the Grayscale BTC Trust (GBTC) while closing or reducing smaller positions in other spot BTC ETFs, including those offered by ARK 21Shares (ARKB), Bitwise (BITB), Grayscale (Mini Trust), Invesco Galaxy (BTCO), and WisdomTree (BTCW).

Interestingly, the bank also had significant options positions, with a IBIT call option valued at $157 million and puts on IBIT and FBTC for Q4 valued at $527 million and $84 million, respectively. These strategies suggest that Goldman was hedging potential downside while trying to capitalize on any further BTC price surges.

Goldman’s bullish tilt on BTC aligns with rising interest among major financial institutions in digital assets. The bank, which first waded into spot Bitcoin ETFs in mid-2024, now appears poised to deepen its involvement, buoyed by ongoing price gains and what many observers see as a more constructive regulatory environment.

With Bitcoin hitting highs of $109,000 shortly before the US Presidential inauguration, Goldman’s expanded crypto positions highlight a broader trend: more traditional Wall Street players are seeking to capture the upside of digital assets.