Key Takeaways
- Goldman Sachs now holds $1.56 billion in Bitcoin ETFs.
- The firm added $760 million in Bitcoin ETF options trading.
- Bitcoin ETFs now have a total market cap of $114 billion.
Goldman Sachs has significantly increased its Bitcoin ETF investments, according to its latest SEC filing, holding over $1.56 billion in these funds as of December 31, 2024—a 120% increase from the previous quarter.
The bank has also reported an additional $760 million exposure to Bitcoin ETF options, further deepening its involvement in the market.
BlackRock & Fidelity holdings
Goldman’s largest investment is in BlackRock’s iShares Bitcoin Trust (IBIT), where it holds 24.07 million shares valued at $1.27 billion, marking an 88% increase from the prior quarter.
The firm also doubled its position in Fidelity’s Wise Origin Bitcoin Trust (FBTC) to $288 million—a 105% jump.
Portfolio adjustments
At the same time, Goldman exited smaller Bitcoin ETFs, including ARK 21Shares’ ARKB, Bitwise’s BITB, Invesco Galaxy’s BTCO, and WisdomTree’s BTCW, suggesting a more focused investment strategy in the most liquid Bitcoin products.
Options strategy
The bank also expanded into Bitcoin ETF options, with $527 million in IBIT put options and $157 million in IBIT call options, allowing it to hedge risk and capitalize on market movements.
These positions were taken during a period of extreme volatility, when Bitcoin hit an all-time high of $109,000 before the U.S. Presidential inauguration.
CEO stance
While Goldman Sachs CEO David Solomon remains cautious, calling Bitcoin an “interesting speculative asset”, the firm’s increasing exposure aligns with a broader institutional shift toward Bitcoin investments.
Market impact
Other major banks, including Morgan Stanley and Bank of America, have also begun acquiring Bitcoin ETFs for clients.
With Bitcoin ETF assets surpassing $114 billion—led by BlackRock’s IBIT at $56.5 billion—Wall Street’s engagement in Bitcoin continues to grow.
