Goldman’s Shocking Bitcoin Exposure: A Twist You Won’t Believe!

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Ah, the enigmatic world of finance! Our dear friend, Goldman Sachs, has recently unveiled a staggering $2.3 billion in Bitcoin ETF exposure in its latest 13F filing. Quite the revelation, wouldn’t you say?

Now, let’s dive into the juicy details. The iShares Bitcoin Trust (IBIT) accounts for a whopping $1.9 billion of Goldman’s Bitcoin exposure. Quite the love affair, wouldn’t you say?

But wait, there’s more! Goldman also holds $374 million worth of the shares of Fidelity Wise Origin Bitcoin Fund (FBTC). Now, that’s what I call diversification!

And let’s not forget their negligible exposure to the Grayscale Bitcoin Trust ETF (GBTC). Ah, the thrill of the chase!

In an interview with CNBC, Goldman Sachs CEO David Solomon described Bitcoin as an “interesting speculative asset” and opined that the cryptocurrency would not pose a threat to the US dollar. Quite the diplomatic response, wouldn’t you say?

However, due to regulatory constraints, the bank cannot hold cryptocurrencies, according to Solomon. Ah, the irony of it all!

Apart from Goldman, Morgan Stanley, Bank of America, and other major banks also previously purchased shares of spot Bitcoin ETFs on behalf of their clients. Quite the trendsetters, wouldn’t you say?

Goldman Sachs initially revealed holding $418 million worth of Bitcoin ETFs last August in its regulatory filing for the second quarter. Quite the slow burn, wouldn’t you say?

But wait, there’s more! Prior to this, Sharmin Mossavar-Rahmani, Goldman Sachs’ CIO of Asset & Wealth Management, stirred up some controversy after claiming that the bank did not view Bitcoin as an investment asset class. Quite the contradiction, wouldn’t you say?

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2025-02-12 08:35