Goldman Sachs owns more than $710m in Bitcoin ETF

Goldman Sachs’ latest SEC filing revealed that the global investment firm owns approximately $718 million worth of shares in eight Bitcoin ETFs.

According to Goldman Sachs’ 13F report filed with the United States Securities and Exchange Commission on Nov. 14, the investment bank owns approximately 12.7 million shares in BlackRock’s iShares Bitcoin(BTC) Trust, worth more than $461 million.

Additionally, Goldman Sachs owns more than 1.7 million shares in the Fidelity Wise Origin Bitcoin ETF, worth $95.5 million. He also owns more than 1.4 million shares of the Grayscale Bitcoin Trust ETF, with a market cap of $72 million, and 940,443 shares of the Invesco Galaxy Bitcoin ETF, valued at approximately $60 million.

Moreover, Goldman Sachs currently owns Bitwise Bitcoin ETF shares worth $22.5 million, ARK 21Shares Bitcoin ETF worth $3.8 million, Grayscale Bitcoin Mini Trust ETF worth about $4 million, and WisdomTree Bitcoin Fund worth about $791,852.

In addition to the firm’s Bitcoin ETF investments, Goldman Sachs invested $22 million in Ether(ETH) ETFs, $22.6 million in the Grayscale Ethereum Mini Trust ETF, and $2.6 million in the Fidelity Ethereum Fund.

Since the bank’s previous 13F filing for the second quarter of 2024 in August, Goldman Sachs has invested another $300 million in Bitcoin ETF shares. At the time, the investment bank had about 7 million shares worth more than $238 million in BlackRock’s iShares Bitcoin Trust and other smaller investments in other Bitcoin-related ETFs.

Goldman Sachs was once known as a crypto-resistant investment firm. Chief investment officer Sharmin Mossavar-Rahmani stated that she does not view crypto as an investment asset class. He went so far as to say that Goldman Sachs “doesn’t believe in crypto.”

But now the bank has warmed up to the idea of ​​investing in digital assets since the launch of crypto ETFs. Not only that, Goldman Sachs has even opened itself to more crypto-related ventures.

Goldman Sachs last announced in July that it would launch three tokenization projects by the end of the year as part of its efforts to expand its business into digital assets.

In June 2021, Goldman Sachs began participating in financing rounds for Blockchain infrastructure provider Blockdaemon. The investment firm continued to support the project with series B financing, which raised approximately $155 million.