{"id":32388,"date":"2024-11-15T21:00:08","date_gmt":"2024-11-15T18:00:08","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=32388"},"modified":"2024-11-15T19:35:21","modified_gmt":"2024-11-15T16:35:21","slug":"goldman-sachs-sets-a-record-with-bitcoin-etf-investments","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/goldman-sachs-sets-a-record-with-bitcoin-etf-investments\/","title":{"rendered":"Goldman Sachs Sets a Record with Bitcoin ETF Investments!"},"content":{"rendered":"

Once skeptical of cryptocurrencies, Goldman Sachs<\/strong> is now making headlines with its massive Bitcoin ETF<\/strong> investments. According to a November 14 SEC filing, the bank disclosed a total of $718 million<\/strong> in Bitcoin ETF holdings. This marks a $300 million<\/strong> addition since Q2 2024, increasing its Bitcoin ETF portfolio by 71%<\/strong>.<\/p>\n

Major Investments in BlackRock and Fidelity ETFs<\/strong><\/h3>\n

Goldman Sachs<\/strong> made its largest investment of $461 million<\/strong> in BlackRock\u2019s iShares Bitcoin Trust ETF (IBIT)<\/strong>. Additionally, the bank allocated $96 million<\/strong> to Fidelity\u2019s Wise Origin Bitcoin Fund<\/strong>, $72 million<\/strong> to Grayscale Bitcoin Trust ETF<\/strong>, and $60 million<\/strong> to Invesco Galaxy Bitcoin ETF<\/strong>. Smaller investments include $22.5 million<\/strong> in Bitwise Bitcoin ETF<\/strong> and $3 million<\/strong> in the ARK 21Shares Bitcoin ETF<\/strong>.<\/p>\n

\"goldman<\/p>\n

Goldman Sachs<\/strong> didn\u2019t stop at Bitcoin ETFs. The bank also invested in Ethereum ETFs, including $22 million<\/strong> in Grayscale Ethereum Mini Trust ETF<\/strong> and $2.6 million<\/strong> in Fidelity Ethereum Fund<\/strong>.<\/p>\n

\n

Might interest you: Who Could Replace Gary Gensler as SEC Chairman?<\/strong><\/a><\/em><\/p>\n

\n

These moves highlight a significant shift from Goldman Sachs\u2019<\/strong> earlier stance on cryptocurrencies. In 2020, the bank dismissed Bitcoin as a \u201cnon-investment asset class\u201d unsuitable for clients. Even after establishing a BTC derivatives trading desk in 2021, skepticism persisted among executives like Sharmin Mossavar-Rahmani<\/strong>, who likened the crypto surge to the 1600s tulip mania<\/strong> and declared, “We\u2019re not believers in crypto.”<\/p>\n

Today, however, Goldman Sachs<\/strong> is strengthening its influence in the crypto space with substantial investments, signaling a notable transformation in its approach.<\/p>\n

\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram,\u00a0<\/strong><\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Once skeptical of cryptocurrencies, Goldman Sachs is now making headlines with its massive Bitcoin ETF investments. According to a November 14 SEC filing, the bank disclosed a total of $718 million in Bitcoin ETF holdings. This marks a $300 million addition since Q2 2024, increasing its Bitcoin ETF portfolio by 71%. Major Investments in BlackRock<\/p>\n","protected":false},"author":28,"featured_media":32389,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,10,657,2],"tags":[534,535,192,60,3497,840,58,1000,3289,3341,1096,7650,9509],"class_list":["post-32388","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-economy-news","category-en","category-news","tag-bitcoin-etf","tag-blackrock","tag-blockchain","tag-btc","tag-btc-etf","tag-crypto-market","tag-cryptocurrency","tag-ethereum-etf","tag-fidelity","tag-goldman-sachs","tag-grayscale","tag-institutional-investment","tag-sec-filing"],"yoast_head":"\nGoldman Sachs Sets a Record with Bitcoin ETF Investments! - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/goldman-sachs-sets-a-record-with-bitcoin-etf-investments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Goldman Sachs Sets a Record with Bitcoin ETF Investments! - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Once skeptical of cryptocurrencies, Goldman Sachs is now making headlines with its massive Bitcoin ETF investments. 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