Goldman Sachs Reveals More Than $400 Million in Bitcoin ETF Holdings

Goldman Sachs went from Bitcoin skeptic to Bitcoin owner in just a few months.

A new 13F filing with the SEC on Tuesday revealed that the investment giant held more than $400 million worth of Bitcoin ETFs as of June 30.

Approximately $418 million worth of Bitcoin ETF assets were spread among various ETF issuers, including BlackRock, Grayscale, Fidelity, and Bitwise.

Goldman’s foray into the crypto world is somewhat surprising, considering what Goldman Sachs’ Head of Asset Management said about crypto a few months ago. In an interview with the Wall Street Journal in April, Goldman’s Sharmin Mossavar-Rahmani said the firm wasn’t interested in crypto, but neither were its asset clients.

“We don’t think of it as an investment asset class,” he told The Journal at the time. “We don’t believe in crypto.”

But since then, Goldman has apparently not only scooped up Bitcoin ETFs, but the Wall Street giant has also shared plans to branch out into three different tokenized asset projects. According to Fortune , Goldman is laying the groundwork for a tokenized European debt fund, a project targeting U.S. funds and another yet-to-be-announced sector.

NEW: Goldman Sachs Reveals New Bitcoin Assets in SEC Filing

As of June 30, Goldman stated:

$239 Million – iShares Bitcoin Trust
$79.55 Million – Fidelity Wise Origin Bitcoin
$56.19 Million – Invesco Galaxy Bitcoin ETF
$35.15 Million – Grayscale Bitcoin Trust
$8.3 Million – Bitwise Bitcoin ETF
+ more picture.twitter.com/yaFkr3uoLu

— Coin (@coinage_media) August 14, 2024

Overall, Goldman’s turnaround is the latest in a long line of Wall Street power players changing their minds about Bitcoin. BlackRock’s Larry Fink years ago called Bitcoin a “money laundering index” and former President Donald Trump once called it a “fraud.”

Goldman is the third-largest holder of BlackRock’s Bitcoin ETF, according to FinTell data.