高盛（Goldman Sachs）加倍加密，領導了機構收養的指控

加密貨幣領域正在經歷新的動力，而高盛（Goldman Sachs）（世界上最有影響力的投資銀行之一）領導了這一指控。在過去的幾天中，一些SEC文件確實表明了高盛（Goldman Sachs）在2024年的最後幾個月中投資了大部分比特幣和以太坊ETF，從而擴大了其戰略。

Key Takeaways:

關鍵要點：

The cryptocurrency domain witnessed a renewed momentum with Goldman Sachs, one of the world’s influential investment banks, leading the charge. A few SEC documents over the last few days have highlighted how Goldman Sachs has broadened its strategy by channeling a large portion of its investment into Bitcoin and Ethereum ETFs in the last months of 2024. This marks a bold shift from the bank’s previous stance on cryptocurrencies.

加密貨幣領域見證了與世界有影響力的投資銀行之一高盛（Goldman Sachs）的新勢頭，領導了這一指控。在過去的幾天中，一些SEC文件強調了高盛在2024年的最後幾個月將其大部分投資引入比特幣和以太坊ETF，如何擴大其戰略。這標誌著與銀行以前對加密貨幣的先前立場的大膽轉變。

Goldman Sachs’ evolving stance on cryptocurrencies has led to increased adoption through regulated ETFs. What triggered these changes and what are the future aims for crypto adoption? In this article, we will examine the factors that drove this shift and its implications for broader crypto adoption.

高盛對加密貨幣的不斷發展的立場導致通過受監管的ETF的採用增加。是什麼觸發了這些變化，未來的採用目標是什麼？在本文中，我們將研究推動這種轉變的因素及其對更廣泛的加密採用的影響。

Explosive Growth: Examining the ETF Investment Breakdown

爆炸性增長：檢查ETF投資故障

The numbers are indeed mind-boggling. Goldman Sachs increased its investment in Ethereum ETFs by a record 2000%, growing from $22 million to a staggering $476 million in just one quarter. Goldman Sachs’ investments in Ethereum ETFs are concentrated in leading funds such as iShares Ethereum Trust (ETHA) and Fidelity Ethereum Fund (FETH), with a smaller allocation to Grayscale Ethereum Trust ETF (ETHE). This array approach proposes a tempered and rack together the pieces type of a strategy.

這些數字確實令人難以置信。高盛將其對以太坊ETF的投資提高了創紀錄的2000％，從2200萬美元增長到僅季度的驚人4.76億美元。高盛（Goldman Sachs）對以太坊ETF的投資集中在領先的資金中，例如以太坊信託（Etha）和富達以太坊基金（FETH），對灰度以太坊信託ETF（ETHE）的分配較小。這種陣列方法提出了一種糾正的策略類型。

Goldman Sachs held $234.7 million in Fidelity Ether ETFs (Q4). Source: SEC

高盛（Goldman Sachs）持有2.347億美元的富達Ether ETF（第四季度）。資料來源：秒

But the story doesn’t end there—Goldman Sachs’ Bitcoin investments are equally striking. Goldman Sachs, with $1.52 billion, more than doubled its Bitcoin ETF holdings by marking an increase of 114%. The majority of Goldman Sachs’ Bitcoin ETF investment went into the iShares Bitcoin Trust (IBIT), with a smaller allocation to the Fidelity Wise Origin Bitcoin Fund (FBTC).

但是這個故事並沒有結束 - Goldman Sachs的比特幣投資同樣引人注目。高盛（Goldman Sachs）擁有15.2億美元，其比特幣ETF持有量增加了一倍以上，這增加了114％。高盛的大多數比特幣ETF投資都進入了iShares比特幣信託基金（IBIT），對Fidelity Wise Origin Bitcoin Fund（FBTC）的分配較小。

Goldman Sachs’ ETF Holdings in Q4 2024:

高盛（Goldman Sachs）在第4季度的ETF持有：

Decoding the Strategy: What’s Behind Goldman’s Crypto U-Turn?

解碼該策略：高盛的加密掉頭背後是什麼？

Even though the increasing prices of Bitcoin (up 41%) and Ethereum (up 26.3%) in Q4 2024 were a major factor, the classic way would be just to ascribe Goldman Sachs’ turnaround to wins in the short term. The truth is that the matter is complicated and there are a few factors:

儘管第4季度2024年比特幣（增長41％）和以太坊（增長26.3％）的價格上漲是主要因素，但經典的方法只是將高盛的周轉時間歸因於短期內獲勝。事實是，此事很複雜，有幾個因素：

More News: SEC Forms Crypto Task Force Led by ‘Crypto Mom’ Hester Peirce – A Shift in Crypto Regulation

更多新聞：SEC組成由“加密媽媽” Hester Peirce領導的加密特遣部隊 - 加密監管的轉變

From Skeptic to Stakeholder: A Shift in Sentiment

從懷疑論到利益相關者：情緒轉變

It is actually good to never forget that Goldman Sachs was one of the big critics of crypto in the past. Thus, the company was very cautious and skeptical on account of issues such as Bitcoin’s volatile nature, lack of oversight, and the potential for criminal activities. Notably, Sharmin Mossavar-Rahmani, Chief Investment Officer of Goldman Sachs Private Wealth Management, had previously expressed strong reservations, comparing the crypto craze to historical speculative bubbles like the “tulip mania” of the 17th century. This viewpoint underscored a deep-seated skepticism within the firm regarding the long-term viability of cryptocurrencies as a legitimate asset class.

永遠不要忘記高盛是過去的最大批評者之一，這真是太好了。因此，由於比特幣的動盪性，缺乏監督和犯罪活動的潛力等問題，該公司非常謹慎和懷疑。值得注意的是，高盛私人財富管理首席投資官Sharmin Mossavar-Rahmani先前表達了強烈的保留，將加密貨幣熱潮與歷史投機泡沫進行了比較，例如17世紀的“ Tulip Mania”。該觀點強調了公司內部關於加密貨幣作為合法資產類別的長期可行性的深厚的懷疑。

Sharmin Mossavar-Rahmani, Chief Investment Officer of Goldman Sachs Private Wealth Management

高盛私人財富管理首席投資官Sharmin Mossavar-Rahmani

What caused this shift in strategy? The explanation is in the very nature of the market as well as the increasing pressure from the clients. Like many other traditional financial institutions, Goldman Sachs realized it could no longer ignore the crypto revolution. The company must have altered the business modus operandi practically or else they would have been left behind. It’s a clear situation of “if you can’t beat ’em, join ’em.”

是什麼原因導致戰略轉變？解釋是市場的本質以及客戶的壓力日益增加。像許多其他傳統金融機構一樣，高盛（Goldman Sachs）意識到它不再忽略加密革命。該公司必須實際上改變了業務作案手法，否則它們將被拋在後面。這是“如果您不能擊敗'em，請加入'em”的明顯情況。

Implications and the Road Ahead: What Does This Mean for Crypto?

含義和前進的道路：這對加密意味著什麼？

The fact that Goldman Sachs made more investment in a crypto ETF can be considered a major sign and will likely cause more institutional players to join and thus will increase the liquidity hence the broader adoption. But, the road ahead won’t be easy. Ambiguity in regulation, the volatility that is inherent, and security breaches (eg. the FTX case) continue to present the primary issues. In spite of these difficulties, Goldman Sachs’ growing involvement in the field confirms the crypto discipline’s rise and its possible domination of global finance.

高盛對加密ETF進行更多投資的事實可以被視為一個主要信號，並可能導致更多的機構參與者加入，從而增加流動性，從而更廣泛的採用。但是，前方的道路並不容易。監管的歧義，固有的波動性和安全漏洞（例如，FTX案例）繼續提出主要問題。儘管遇到了這些困難，但高盛在該領域的參與日益加劇，證實了加密紀律的崛起及其可能對全球金融的統治。