Goldman Sachs Reports $418M Exposure to Bitcoin Spot ETFs

Investment banking firm Goldman Sachs has revealed exposure to Bitcoin. In a 13F filing with the Securities and Exchange Commission (SEC) on Tuesday, the Wall Street giant noted that it had invested $418 million in spot Bitcoin spot exchange-traded fund (ETF).

This puts Goldman Sachs on an exclusive list of elite companies with a form of exposure to Bitcoin. CoinTab reported earlier that Europe’s fourth-largest hedge fund, Capula, revealed it owns $500 million worth of spot Bitcoin ETFs.

Third Largest BlackRock ETF Holder

The Tuesday filing showed that Goldman Sachs holds a hefty share of BlackRock’s iShare spot Bitcoin ETF (IBIT). The investment bank owns 6.9 million shares of IBIT ($238.6 million), becoming the third-largest holder of the fund. Only Millennium Management ($844 million) and Capula ($250 million) hold more IBIT than Goldman Sachs.

Aside from BlackRock, Goldman Sachs holds a substantial share of six other Bitcoin ETF issuers. The filing showed that the Wall Street powerhouse has 1.5 million shares of Fidelity’s FBTC ($79.5 million), 940,443 shares of Invesco’s BTCO ($56.2 million), and 660,183 shares of Grayscale’s GBTC ($35.1 million).

The firm also holds 253,961 shares of Bitwise’s BITB ($8.3 million), 11,773 shares of Wisdom Tree’s BTCW ($749,469), and 5,000 shares of Ark Invest’s ARKB ($299,900). 

Institution Also Buying Ether ETFs

Institutional investors are also picking interest in the spot Ethereum EFTs, as with Bitcoin’s. A firm revealed exposure to the Ethereum product less than a month after it started trading.

A Tuesday 13F filing from DRW Venture Capital showed that it bought $150 million worth of the Grayscale Ethereum Trust, its first exposure to Ethereum. The Chicago-based firm further revealed a $45 million investment in other crypto ETFs.

Analysts predicted a possible institutional influx into the Ethereum spot ETF, with Bitwise predicting the product will attract $15 billion in its first 18 months. Currently, Ether ETF has a negative net flow of $376.7 million.