"Wall Street's Goldman Sachs has revealed an expansion of its crypto holdings, reporting roughly $2.36 billion in total crypto exposure - including $1.1 billion in Bitcoin ETFs, according to financial holding disclosures. Bitcoin's portion of the haul - the largest of any digital asset listed - highlights just how far the venerable investment bank has shifted from earlier skepticism toward meaningful exposure in the world's largest cryptocurrency by market cap. The $1.1 billion position was in IBIT, BlackRock's iShares Bitcoin Trust ETF."
"The SEC filings also revealed holdings of approximately $35.8 million in Fidelity's Wise Origin Bitcoin Fund, roughly $92,000 in American Bitcoin and approximately $57,000 in Bitcoin Depot and various other bitcoin mining or cloud-based companies. According to the filings, Goldman Sachs also had hundreds of thousands in IBIT calls and puts. Goldman's path into Bitcoin began more than half a decade ago with tentative forays into the asset class. In 2022, the firm executed its first known BTC-backed loan and a non-deliverable Bitcoin options trade - milestones that marked early strategic steps into digital assets."
"Yet for much of its history, Goldman was publicly circumspect about crypto, with executives in earlier years distancing the bank from Bitcoin as an investable class. That posture shifted notably in 2024, when Securities and Exchange Commission (SEC) filings revealed the bank's first meaningful accumulation of Bitcoin ETFs, including BlackRock's iShares Bitcoin Trust (IBIT) and Fidelity's Wise Origin Bitcoin Fund. Institutional filings from that period show Goldman tripling its Bitcoin ETF stake within months, bringing its holdings to roughly $1.5 billion and making it one of the largest institutional holders of Bitcoin ETFs. Filings from today also showed that Goldman Sachs held Ethereum, XRP, and Solana"
Goldman Sachs reported roughly $2.36 billion in total crypto exposure, with about $1.1 billion allocated to BlackRock's iShares Bitcoin Trust (IBIT). The holdings also included approximately $35.8 million in Fidelity's Wise Origin Bitcoin Fund, smaller positions in American Bitcoin, Bitcoin Depot, other mining and cloud-based companies, and IBIT options. The bank began tentative forays into Bitcoin more than five years ago and executed BTC-backed loans and non-deliverable options in 2022. SEC filings show a notable accumulation of Bitcoin ETFs in 2024, including a tripling of its ETF stake to roughly $1.5 billion. Holdings also include Ethereum, XRP, and Solana.
Read at Bitcoin Magazine
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