Goldman Sachs Holds $418.65 Million in Spot Bitcoin ETFs, Including 7 Million iShares Shares

• Goldman Sachs disclosed a $418.65 million investment in spot Bitcoin ETFs, including nearly 7 million shares of the iShares Bitcoin Trust.
• The banking giant’s diversified portfolio also includes substantial holdings in Fidelity, Grayscale, and Invesco Bitcoin ETFs, signaling robust confidence.
• Goldman Sachs CEO David Solomon recognizes Bitcoin’s potential as a store of value, while emphasizing the technology’s role in financial innovation.

Goldman Sachs, a leading name in global investment banking, recently disclosed significant holdings in several Bitcoin exchange-traded funds (ETFs). In a filing with the U.S. Securities and Exchange Commission (SEC), the firm revealed that as of June 30, it held approximately $418.65 million in U.S. spot Bitcoin ETFs. This substantial investment underscores Goldman Sachs’ strategic positioning within the cryptocurrency sector.

Goldman Sachs’ Notable Investment in iShares Bitcoin Trust

One significant point that stands out in the SEC filing is Goldman Sachs’ purchase of BlackRock’s iShares Bitcoin Trust (IBIT). Nearly 7 million shares of IBIT are owned by this banking giant, which is valued at approximately $238.6 million and makes it the third biggest holder of such an ETF. Among other things, it should be noted that this investment forms part of wider range investments including many Bitcoin ETFs; thus showing their belief in Bitcoin as a long-term asset class with potential.

Apart from the iShares Bitcoin Trust, Goldman Sachs has also invested a lot of money in other well-known Bitcoin ETFs. The company disclosed that it had invested $79.5 million in the Fidelity Wise Origin Bitcoin Fund, $35.1 million in the Grayscale Bitcoin Trust and $56.1 million in the Invesco Galaxy Bitcoin ETF. It also has smaller positions in funds like Bitwise ($8.3 million), WisdomTree ($749,469) and ARK 21Shares ($299,900).

Bitcoin ETFs Rule 2024 ETF Market

The filing comes on the same day that ETFStore President Nate Geraci noted how much of the market is being taken up by Bitcoin-focused products this year. Thus far, Geraci said that the iShares Bitcoin ETF alone has seen roughly $20.5 billion of inflows; to put this into perspective, he added that all other ETF launches combined have attracted just $6 billion. This retail interest reflects institutional investors’ growing appetite for such products as well as their own desire for exposure to digital assets.

Goldman Sachs CEO on Bitcoin’s Store of Value Potential

Solomon’s remarks today follow comments made by Goldman CEO David Solomon last month about cryptocurrencies more broadly during an interview with CNBC’s “Squawk Box.” 

Though Solomon expressed skepticism around whether bitcoin itself will become a widely accepted medium exchange between individuals or merchants, he did say: “I think there will be a big evolution around the idea of store value” adding that many people are looking at which digital currencies could find long-term success serving as stores of wealth akin to gold.