Goldman Sachs Bets Big on Bitcoin and Ethereum ETFs

Goldman Sachs, a leading global investment bank, has revealed a significant investment in Bitcoin and Ethereum exchange-traded funds (ETFs), according to a recent filing with the U.S. Securities and Exchange Commission (SEC). The filing indicates that the firm holds approximately $1.83 billion worth of shares in these digital asset ETFs.

The data shows that Goldman Sachs has invested heavily in Bitcoin ETFs, with the majority of its holdings in BlackRock’s iShares Bitcoin Trust (IBIT). The firm owns 24,077,861 shares of IBIT, valued at over $1.33 billion, along with 3,530,486 shares of the Fidelity Wise Origin Bitcoin (FBTC), worth over $300 million, and 49,183 shares of the Grayscale Bitcoin Trust (GBTC), valued at more than $3.7 million.

In addition to its Bitcoin investments, Goldman Sachs has also allocated a substantial amount to Ethereum ETFs. The firm holds 7,024,747 shares of the Fidelity Ethereum Fund (FETH), worth over $191.1 million, and 200,000 shares of the Grayscale Ethereum Mini Trust ETF, valued at more than $5.1 million.

The approval of BTC and ETH-based ETFs by the SEC in 2024 has opened up new investment opportunities for institutions like Goldman Sachs. These ETFs allow investors to gain exposure to the top two digital assets by market capitalization without physically owning the underlying cryptocurrencies.

In December 2024, Goldman Sachs CEO David Solomon expressed his views on the regulatory environment for digital assets. He stated that, as a regulated banking institution, the firm is currently not permitted to hold or trade cryptocurrencies like Bitcoin as a principal. However, Goldman Sachs continues to provide advice to clients on various technologies and issues related to digital assets.