Goldman Sachs Reveals $418 Million Investment in Bitcoin ETF
Goldman Sachs reported $418 million in spot bitcoin ETF holdings for the second quarter of 2024, with its largest investment being a $238 million stake in Blackrock’s Ishares Bitcoin Trust (IBIT).
The bank also holds significant positions in Fidelity’s Wise Origin Bitcoin ETF (FBTC) and Invesco’s Galaxy Bitcoin ETF (BTCO). In contrast, Morgan Stanley reduced its bitcoin ETF holdings from $270 million to $189 million, mainly through a sale in Grayscale Bitcoin Trust (GBTC).
Hedge funds are becoming more aggressive in the crypto space, with Millennium Management being a major holder of Blackrock’s bitcoin fund, despite reducing its position. This trend reflects a growing institutional acceptance of cryptocurrency as a mainstream asset.
Clever Robot News Desk 18th August 2024
