Goldman Sachs has significantly increased its exposure to Bitcoin exchange-traded funds (ETFs), revealing a $1.5 billion stake in Bitcoin ETFs from BlackRock and Fidelity.
The news, disclosed in the firm’s 13F filing with the SEC, signals growing institutional interest in the cryptocurrency space.
Major Increases in Bitcoin ETF Holdings
The filing, covering the fourth quarter of 2024, showed a substantial rise in Goldman Sachs’ Bitcoin ETF positions.
The firm reported holding $1.27 billion worth of BlackRock’s iShares Bitcoin Trust (IBIT), which translates to 24,077,861 shares. This marks an 88% increase in IBIT shares from the previous quarter.
Goldman Sachs also disclosed $288 million in Fidelity’s Wise Origin Bitcoin Trust (FBTC), equating to 3,530,486 shares. This also represents a 105% rise in holdings from the prior period.
Bitcoin ETFs Continue to Lead the Market
BlackRock’s IBIT ETF remains the leader in Bitcoin ETFs, with $40.87 billion in assets. It has significantly outpaced its competitors, including Fidelity’s FBTC with $12.6 billion and Ark Invest’s Bitcoin ETF, which holds $3.0 billion.
In late January, IBIT saw significant inflows, attracting $321.5 million on January 30 and $363.8 million the following day.
While some minor outflows were observed in early February, the ETF has continued to draw strong institutional participation.
Institutional Interest in Bitcoin Grows
The growing interest in Bitcoin ETFs is reflective of broader institutional participation in the cryptocurrency market. BlackRock’s head of digital assets previously stated that Bitcoin adoption is still in its early stages, with institutional involvement expected to increase in the coming years.
Launched in January 2024, BlackRock’s IBIT ETF has become one of the most successful Bitcoin ETF rollouts in history, marking a turning point in institutional adoption of digital assets.
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