高盛（Goldman Sachs）加倍加密，领导了机构收养的指控

加密货币领域正在经历新的动力，而高盛（Goldman Sachs）（世界上最有影响力的投资银行之一）领导了这一指控。在过去的几天中，一些SEC文件确实表明了高盛（Goldman Sachs）在2024年的最后几个月中投资了大部分比特币和以太坊ETF，从而扩大了其战略。

Key Takeaways:

关键要点：

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.

加密货币领域见证了与世界有影响力的投资银行之一高盛（Goldman Sachs）的新势头，领导了这一指控。在过去的几天中，一些SEC文件强调了高盛在2024年的最后几个月将其大部分投资引入比特币和以太坊ETF，如何扩大其战略。这标志着与银行以前对加密货币的先前立场的大胆转变。

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.

高盛对加密货币的不断发展的立场导致通过受监管的ETF的采用增加。是什么触发了这些变化，未来的采用目标是什么？在本文中，我们将研究推动这种转变的因素及其对更广泛的加密采用的影响。

Explosive Growth: Examining the ETF Investment Breakdown

爆炸性增长：检查ETF投资故障

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.

这些数字确实令人难以置信。高盛将其对以太坊ETF的投资提高了创纪录的2000％，从2200万美元增长到仅季度的惊人4.76亿美元。高盛（Goldman Sachs）对以太坊ETF的投资集中在领先的资金中，例如以太坊信托（Etha）和富达以太坊基金（FETH），对灰度以太坊信托ETF（ETHE）的分配较小。这种阵列方法提出了一种纠正的策略类型。

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

高盛（Goldman Sachs）持有2.347亿美元的富达Ether ETF（第四季度）。资料来源：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).

但是这个故事并没有结束 - Goldman Sachs的比特币投资同样引人注目。高盛（Goldman Sachs）拥有15.2亿美元，其比特币ETF持有量增加了一倍以上，这增加了114％。高盛的大多数比特币ETF投资都进入了iShares比特币信托基金（IBIT），对Fidelity Wise Origin Bitcoin Fund（FBTC）的分配较小。

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?

解码该策略：高盛的加密掉头背后是什么？

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:

尽管第4季度2024年比特币（增长41％）和以太坊（增长26.3％）的价格上涨是主要因素，但经典的方法只是将高盛的周转时间归因于短期内获胜。事实是，此事很复杂，有几个因素：

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

更多新闻：SEC组成由“加密妈妈” Hester Peirce领导的加密特遣部队 - 加密监管的转变

From Skeptic to Stakeholder: A Shift in Sentiment

从怀疑论到利益相关者：情绪转变

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.

永远不要忘记高盛是过去的最大批评者之一，这真是太好了。因此，由于比特币的动荡性，缺乏监督和犯罪活动的潜力等问题，该公司非常谨慎和怀疑。值得注意的是，高盛私人财富管理首席投资官Sharmin Mossavar-Rahmani先前表达了强烈的保留，将加密货币热潮与历史投机泡沫进行了比较，例如17世纪的“ Tulip Mania”。该观点强调了公司内部关于加密货币作为合法资产类别的长期可行性的深厚的怀疑。

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

高盛私人财富管理首席投资官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.”

是什么原因导致战略转变？解释是市场的本质以及客户的压力日益增加。像许多其他传统金融机构一样，高盛（Goldman Sachs）意识到它不再忽略加密革命。该公司必须实际上改变了业务作案手法，否则它们将被抛在后面。这是“如果您不能击败'em，请加入'em”的明显情况。

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

含义和前进的道路：这对加密意味着什么？

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.

高盛对加密ETF进行更多投资的事实可以被视为一个主要信号，并可能导致更多的机构参与者加入，从而增加流动性，从而更广泛的采用。但是，前方的道路并不容易。监管的歧义，固有的波动性和安全漏洞（例如，FTX案例）继续提出主要问题。尽管遇到了这些困难，但高盛在该领域的参与日益加剧，证实了加密纪律的崛起及其可能对全球金融的统治。