Key Insights
- Goldman Sachs reports $418.65 million in U.S. spot bitcoin ETF holdings as of June 30.
- The firm’s largest position is in BlackRock’s iShares Bitcoin Trust, worth $238.6 million.
- This disclosure comes as bitcoin’s value rises 3% to around $60,959.
NEW YORK (MarketsXplora) – Goldman Sachs, the global investment banking giant, has disclosed significant investments in U.S. spot bitcoin exchange-traded funds (ETFs), according to its latest 13F filing with the Securities and Exchange Commission (SEC) on Tuesday.
As of June 30, the firm’s holdings in these ETFs were valued at approximately $418.65 million, marking a substantial entry into the cryptocurrency-linked investment products market.
The filing reveals that Goldman Sachs’ largest position is in BlackRock’s iShares Bitcoin Trust (IBIT), with 6.9 million shares worth $238.6 million. This makes Goldman the third-largest holder of IBIT, trailing behind Millennium Management and Capula Management Ltd., as per Fintel data.
The investment bank’s bitcoin ETF portfolio also includes 1.51 million shares of Fidelity’s FBTC, valued at $79.5 million, and 660,183 shares of Grayscale’s converted bitcoin fund, worth $35.1 million. Additionally, Goldman holds $56.1 million in the Invesco Galaxy bitcoin ETF and smaller positions in funds from Bitwise, WisdomTree, and Ark-21Shares.
This disclosure comes as part of the mandatory quarterly 13F filings required from institutional investment managers with over $100 million in equity assets under management. While these filings provide insight into long equity positions and options, they do not disclose short positions, limiting their usefulness as a comprehensive portfolio strategy overview.
Goldman’s move follows a similar disclosure by Capula, one of Europe’s largest hedge funds, which reported spot bitcoin ETF holdings of $464 million earlier this month, with significant investments also concentrated in BlackRock and Fidelity’s funds.
The revelations come amid a surge in bitcoin’s value, which has seen a 3% increase in the past 24 hours, trading at around $60,959 at the time of reporting, according to The CoinMarketCap.