{"id":598938,"date":"2024-11-15T12:30:26","date_gmt":"2024-11-15T12:30:26","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=598938"},"modified":"2024-11-15T12:30:26","modified_gmt":"2024-11-15T12:30:26","slug":"goldman-sachs-hold-over-700-million-in-spot-btc-etfs","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/goldman-sachs-hold-over-700-million-in-spot-btc-etfs","title":{"rendered":"Goldman Sachs Hold Over $700 Million In Spot BTC ETFs"},"content":{"rendered":"

Wall Street investment banking giant Goldman Sachs holds more than $700 million in spot Bitcoin ETF (exchange-traded fund) shares.<\/span><\/p>\n

A Nov. 14 <\/span>filing<\/span><\/a> with the US Securities and Exchange Commission (SEC) shows that the bank holds approximately $718 million in 8 spot BTC ETFs.<\/span><\/p>\n

\"Goldman<\/p>\n

Goldman Sachs Holds A Substantial Position In BlackRock’s IBIT<\/span><\/h2>\n

The filing shows that the bank’s biggest spot <\/span>Bitcoin<\/span><\/a> ETF holding is in BlackRock’s IBIT, with Goldman Sachs having a $461 million investment in the fund. This comes after Goldman Sachs added another $300 million to its Bitcoin ETF portfolio since the second quarter of this year, marking a 71% increase in the bank’s exposure to these crypto investment products.<\/span><\/p>\n

In addition to the $461 million IBIT investment, Goldman Sachs also holds $96 million in Fidelity’s Wise Origin Bitcoin Fund (FBTC). It has invested $72 million in the Grayscale Bitcoin Trust ETF (GBTC) and approximately $60 million in the Invesco Galaxy Bitcoin ETF (BTCO) as well.<\/span><\/p>\n

The bank’s portfolio also includes a $22.5 million investment in Bitwise’s <\/span>Bitcoin<\/span><\/a> ETF (BITB), $3 million in the ARK 21Shares Bitcoin ETF (ARKB), around $4 million in the Grayscale Bitcoin Mini Trust (BTC) as well as $800,000 in the WisdomTree Bitcoin Fund (BTCW).<\/span><\/p>\n

Trader Says Bitcoin Still In The Early Stages Of A “Parabolic” Phase<\/span><\/h2>\n

The filing comes as the largest crypto by market cap <\/span>drops<\/span><\/a> over 1% in the last 24 hours to trade at $90,483.52 as of 8:13 a.m. EST. Despite the minor correction throughout the past day of trading, the flagship crypto’s weekly performance still remains over 18% in the green.<\/span><\/p>\n

\n

#BTC<\/a> <\/p>\n

Bitcoin has Daily Closed below both blue levels but is already trying to reclaim them as support<\/p>\n

The most important thing here would be to avoid turning them into resistance later today<\/p>\n

Macro-wise Bitcoin is still very early in its Parabolic Phase$BTC<\/a> #Crypto<\/a> #Bitcoin<\/a> https:\/\/t.co\/ihJkeq8kRc<\/a> pic.twitter.com\/RQ0kRoBaUz<\/a><\/p>\n

— Rekt Capital (@rektcapital) November 15, 2024<\/a><\/p><\/blockquote>\n