Bold move with Bitcoin ETFs
It now holds $1.27 billion worth of the iShares Bitcoin Trust ETF (IBIT), which equates to about 24,077,861 shares, as per The Street. This is an 88% rise in its Bitcoin ETF holdings from its previous filing covering July to September 2024.
According to the report, iShares Bitcoin Trust ETF is a convenient method of exposure to Bitcoin without the institutions actually holding the cryptocurrency, an option which has been becoming increasingly popular with leading financial institutions.
Fidelity Bitcoin Fund
Furthermore, Goldman Sachs has also increased its investment in the Fidelity Wise Origin Bitcoin Fund (FBTC) to $288 million. According to The Street, this is a 105% increase from the last quarter. The Fidelity fund is also a regulated investment product that follows the price of Bitcoin and is another institutionally focused product for those interested in gaining access to the cryptocurrency market, as per the report.
Goldman Sachs adjusts crypto exposure through options
But Goldman Sachs has been trimming its overall crypto exposure, closing out smaller Bitcoin ETF positions, and making Bitcoin options moves. According to the report, on December 31, 2024, the bank had IBIT call options worth $157 million, IBIT put options worth $527 million, and FBTC put options worth $84 million.
Other Bitcoin ETFs see outflows
In the meantime, other Bitcoin ETFs experienced some significant outflows. As per the report, Bitcoin spot ETFs as a group experienced $186.3 million in outflows on February 10. According to data provided by Farside Investors, there were large withdrawals from funds such as the Fidelity Wise Origin Bitcoin Fund, ARK 21Shares Bitcoin ETF, and Grayscale Bitcoin Trust.
FAQs
What is Goldman Sachs’ Bitcoin holding?
Goldman Sachs has increased its holdings in Bitcoin exchange-traded funds (ETFs). It now holds $1.27 billion in the iShares Bitcoin Trust ETF (IBIT). This is an 88% increase from the previous quarter.
What’s the Fidelity Wise Origin Bitcoin Fund?
The Fidelity Wise Origin Bitcoin Fund (FBTC) is another Bitcoin-tracking fund that institutional investors use to gain exposure to Bitcoin.
Disclaimer Statement: This content is authored by a 3rd party. The views expressed here are that of the respective authors/ entities and do not represent the views of Economic Times (ET). ET does not guarantee, vouch for or endorse any of its contents nor is responsible for them in any manner whatsoever. Please take all steps necessary to ascertain that any information and content provided is correct, updated, and verified. ET hereby disclaims any and all warranties, express or implied, relating to the report and any content therein.
