Top U.S. Bank Reveals Major Investment in Bitcoin ETFs

Goldman Sachs has released its 13F filing for the second quarter, revealing significant investments in several Bitcoin ETFs.

The banking giant holds substantial shares in BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Bitcoin ETF (FBTC), valued at $238 million and $80 million, respectively.

These filings provide insight into how major financial institutions are investing in Bitcoin ETFs. The trend of institutional investment in these products is growing, with over 500 large investors now participating.

BlackRock’s IBIT, in particular, has quickly become a significant player, reaching daily trading volumes of $4.2 million within six months of its launch.

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Recently, Bitcoin ETFs have seen a resurgence in inflows, with BlackRock’s IBIT receiving $34.6 million and Fidelity’s FBTC attracting $22.6 million. However, Grayscale’s GBTC faced $28.6 million in outflows. Additionally, spot Ethereum ETFs are also gaining traction, led by BlackRock’s ETHA.

In summary, Goldman Sachs’ 13F filing highlights its robust engagement with Bitcoin ETFs, reflecting a broader trend of increasing institutional interest in cryptocurrency investments.

Alexander Stefanov