Among the prominent banks now offering access to Bitcoin (BTC) through its spot exchange-traded funds (ETFs) is Goldman Sachs (NYSE: GS), which recently disclosed its significant holdings in spot Bitcoin ETFs.
Goldman Sachs revealed in its recent quarterly report to the United States Securities and Exchange Commission (SEC) that it had invested over $400 million in spot Bitcoin ETFs, as indicated in the 13F filing for the quarter ending on August 13.
Included in their new holdings are positions in BlackRock (NYSE: BLK) iShares Bitcoin Trust valued at $238.6 million, Fidelity Bitcoin ETF at $79.5 million, Grayscale Bitcoin Trust at $35.1 million, and Invesco Galaxy Bitcoin ETF at $56.1 million.
Additionally, Goldman Sachs holds smaller yet notable positions in Bitcoin ETFs such as Bitwise Bitcoin ETF at $8.3 million, ARK 21Shares Bitcoin ETF at $299,900, and WisdomTree Bitcoin ETF at $749,469 based on the financial services giant’s SEC filing.
Others Embrace Bitcoin Trend
This development coincides with other major players in the banking industry entering the realm of spot Bitcoin ETFs, as highlighted by Morgan Stanley (NYSE: MS) and Wells Fargo (NYSE: WFC) earlier, along with hedge funds like Europe’s Capula, as indicated in this example.
The SEC approved 11 Bitcoin spot ETFs in the U.S. on January 10, marking the debut of the first spot Bitcoin ETF earlier this year, with significant launches including iShares Bitcoin ETF, Fidelity Bitcoin ETF, ARK 21Shares Bitcoin ETF, and Bitwise Bitcoin ETF.
As of the latest data, Bitcoin was trading at $61,370, signaling a 3.70% daily increase and a 7.51% weekly gain. These movements aim to reverse the 2.27% monthly loss recorded as of August 14.
Taken together, the acceptance of spot Bitcoin ETFs and the substantial Bitcoin holdings by Goldman Sachs underscore the escalating institutional interest in the original cryptocurrency and the leading asset in the crypto sector by market cap, signaling a burgeoning allure towards the crypto industry overall.
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