Goldman Sachs Boosts Bitcoin, Ethereum ETF Holdings by Billions

Goldman Sachs, the ninth-largest investment bank globally, has significantly increased its exposure to Bitcoin and Ethereum through exchange-traded funds (ETFs). According to the bank's latest 13F filing with the U.S. Securities and Exchange Commission (SEC), Goldman Sachs boosted its Bitcoin ETF holdings to $1.57 billion in the fourth quarter of 2024, marking a 121.1% increase from the previous quarter.

The Wall Street giant's largest Bitcoin ETF position is in BlackRock's iShares Bitcoin Trust (IBIT), where it now holds 24.07 million shares worth $1.28 billion, a 177% increase in shares from the third quarter. Additionally, Goldman Sachs added $288 million worth of shares to Fidelity's Wise Origin Bitcoin ETF (FBTC), representing a 105% rise, and owns $3.6 million worth of the Grayscale Bitcoin Trust (GBTC).

Goldman Sachs' Ethereum ETF exposure also witnessed a significant surge, with the firm increasing its holdings to $476 million, up from $22 million in the previous quarter – a roughly 19-fold growth. The bank now holds $235 million in Ethereum through Fidelity's FETH and $236 million through BlackRock's ETHA, diversifying its crypto portfolio.

The boost in Bitcoin and Ethereum exposure is partly due to the increase in market prices. Bitcoin saw a 41% jump, while Ethereum surged 26% from the beginning to the end of the fourth quarter, according to CoinGecko data.

Goldman Sachs' recent investment in Bitcoin and Ether ETFs underscores the growing trend of institutional crypto adoption on Wall Street. This trend is spurred by an increasingly favorable regulatory backdrop, with promises to support crypto mining and create a national Bitcoin reserve under President Donald Trump's regime.