As a seasoned crypto investor with over a decade of experience in the ever-evolving digital asset market, I must admit that seeing Goldman Sachs, one of the world’s leading banking giants, diving headfirst into Bitcoin ETFs is nothing short of exhilarating. The sheer size and scale of their investments underscore the growing institutional interest in cryptocurrencies and the maturity of this market.
In the second quarter of Q2, financial titan Goldman Sachs revealed its investment holdings through a 13F filing. According to this SEC submission, Goldman Sachs holds positions in no less than seven Bitcoin Exchange-Traded Funds (ETFs) that are accessible within the U.S. market.
Goldman Sachs and Bitcoin ETF Exposure
According to their recent disclosure, Goldman Sachs owns approximately 7 million shares in BlackRock’s iShares Bitcoin Trust (IBIT), valued at an impressive $238 million. Additionally, they own around 1.5 million shares of Fidelity ETF FBTC, worth close to $80 million. For a comprehensive look at Goldman Sachs’ investments across various funds, please find the full disclosure below.
Following market hours today, Goldman Sachs submitted a 13F report detailing their holdings as of June 30th:
238.6 million dollars in the iShares Bitcoin Trust, representing 6,991,248 shares.
— MacroScope (@MacroScope17) August 13, 2024
As a crypto investor, I’m keeping a close eye on the 13F filings, as they reveal the strategies of major market players when it comes to trading Bitcoin ETFs. In the upcoming quarter, we can expect even more companies to submit their filings, shedding light on their ETF investments in Q2.
Institutional interest in Bitcoin spot ETFs is surging, with over 500 institutional investors now investing in these Bitcoin products. In just half a year since its launch, BlackRock’s IBIT has climbed to become one of the top three Bitcoin holders, handling daily trades worth approximately $4.2 million.
As a seasoned investor with over two decades of experience in the financial markets, I have witnessed numerous trends and fluctuations in various asset classes. This week’s resurgence of inflows into Bitcoin exchange-traded funds (ETFs) is something that catches my attention, not just as an investor but also as a market observer with a keen interest in digital assets.
iShares Bitcoin ETF has taken in approx $20.5bil this yr…
Out of *all* 375 new ETF launches in 2024, next closest non-spot btc ETF = $1.3bil.
Numbers are comical at this point.
Spot btc ETFs (IBIT, FBTC, ARKB, BITB) = top 4 launches of 2024.
Global X Russell 2000 ETF = 5th.
— Nate Geraci (@NateGeraci) August 14, 2024
In a similar fashion, the influx of funds has restarted into the spot Ethereum ETFs, with BlackRock’s ETHA seeing the most activity at the forefront.
Bitcoin Gains Momentum
In the last 24 hours, Bitcoin’s price has picked up speed, surging by another 3% and breaking through the $61,000 mark. This surge is happening before the anticipated US Consumer Price Index (CPI) inflation data release this week, which appears to be triggering significant short position coverings in the market. Meanwhile, Wall Street indices demonstrated strength on Tuesday, with all top three indices recording gains between 1-2%. It’s intriguing to observe whether this upward trend will continue from hereon.
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2024-08-14 08:56