FameEX Hot Topics | Goldman Sachs Increases Ethereum ETF Holdings by 2,000%, Bitcoin ETFs Surge to $1.5B

Goldman Sachs significantly increased its spot Ethereum ETF (exchange-traded fund) position in the fourth quarter of 2024 by more than 2,000% to $476 million, while doubling its Bitcoin ETF holdings to $1.5 billion. The move highlights the growing interest of Wall Street institutions in cryptocurrencies.

According to Goldman Sachs' 13F filing with the U.S. Securities and Exchange Commission on February 11, the investment bank increased its Ethereum ETF holdings from $22 million to $476 million, almost evenly distributed between BlackRock's iShares Ethereum Trust (ETHA) and Fidelity Ethereum Fund (FETH), while also investing $6.3 million in Grayscale Ethereum Trust ETF (ETHE). In addition, Goldman Sachs also increased its Bitcoin ETF holdings by 114% to $1.52 billion, including nearly $1.28 billion worth of iShares Bitcoin Trust (IBIT) and $288 million worth of Fidelity Wise Origin Bitcoin Fund (FBTC).

The documents also show that Goldman Sachs holds $3.6 million worth of Grayscale Bitcoin Trust (GBTC). These increased holdings reflect the rise in the prices of Bitcoin and Ethereum. According to Coingecko data, from the beginning of the fourth quarter to the end of the quarter, the prices of Bitcoin and Ethereum rose by 41% and 26.3%, respectively. At the same time, Goldman Sachs appears to have closed its Bitcoin ETF positions in Bitwise and WisdomTree, as well as joint products of Invesco and Galaxy, ARK and 21Shares. These adjustments indicate that Goldman Sachs is optimizing its cryptocurrency portfolio.

Goldman Sachs' large-scale increase in Bitcoin and Ethereum ETFs further consolidates its position since it first entered the spot cryptocurrency ETF market in the second quarter of 2024. At that time, Goldman Sachs disclosed the purchase of $418 million worth of Bitcoin ETFs. This trend reflects the growing acceptance of cryptocurrencies by Wall Street institutions in an increasingly favorable regulatory environment.

In addition, according to Bloomberg in November, Goldman Sachs is also considering launching its own cryptocurrency platform for partners to trade financial instruments on the blockchain. This plan further shows that Goldman Sachs is actively exploring more opportunities in the cryptocurrency field.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.