SEC Filing Shows Goldman Sachs Hold Over $700 Million In Spot BTC ETFs

Wall
Street
investment
banking
giant
Goldman
Sachs
holds
more
than
$700
million
in
spot
Bitcoin
ETF
(exchange-traded
fund)
shares,
according
to
a
Nov.
14
filing
with
the
US
Securities
and
Exchange
Commission
(SEC).

The


filing

with
the
regulator
shows
that
the
bank
holds
approximately
$718
million
in
8
spot
BTC
ETFs.

Goldman
Sachs
Holds
A
Substantial
Position
In
BlackRock’s
IBIT

The
filing
shows
that
the
bank’s
biggest
spot


Bitcoin

ETF
holding
is
in
BlackRock’s
IBIT,
with
Goldman
Sachs
having
a
$461
million
investment
in
the
fund.
This
comes
after
Goldman
Sachs
added
another
$300
million
to
its
Bitcoin
ETF
portfolio
since
the
second
quarter
of
this
year,
marking
a
71%
increase
in
the
bank’s
exposure
to
these
crypto
investment
products.

In
addition
to
the
$461
million
IBIT
investment,
Goldman
Sachs
also
holds
$96
million
in
Fidelity’s
Wise
Origin
Bitcoin
Fund
(FBTC).
It
has
invested
$72
million
in
the
Grayscale
Bitcoin
Trust
ETF
(GBTC)
and
approximately
$60
million
in
the
Invesco
Galaxy
Bitcoin
ETF
(BTCO)
as
well.

The
bank’s
portfolio
also
includes
a
$22.5
million
investment
in
Bitwise’s


Bitcoin

ETF
(BITB),
$3
million
in
the
ARK
21Shares
Bitcoin
ETF
(ARKB),
around
$4
million
in
the
Grayscale
Bitcoin
Mini
Trust
(BTC)
as
well
as
$800,000
in
the
WisdomTree
Bitcoin
Fund
(BTCW).

Trader
Says
Bitcoin
Still
In
The
Early
Stages
Of
A
“Parabolic”
Phase

The
filing
comes
as
the
largest
crypto
by
market
cap


drops

over
1%
in
the
last
24
hours
to
trade
at
$90,483.52
as
of
8:13
a.m.
EST.
Despite
the
minor
correction
throughout
the
past
day
of
trading,
the
flagship
crypto’s
weekly
performance
still
remains
over
18%
in
the
green.

#BTC

Bitcoin
has
Daily
Closed
below
both
blue
levels
but
is
already
trying
to
reclaim
them
as
support

The
most
important
thing
here
would
be
to
avoid
turning
them
into
resistance
later
today

Macro-wise
Bitcoin
is
still
very
early
in
its
Parabolic
Phase$BTC

#Crypto

#Bitcoin

https://t.co/ihJkeq8kRc

pic.twitter.com/RQ0kRoBaUz

—
Rekt
Capital
(@rektcapital)

November
15,
2024

Pseudonymous
crypto
trader
and
analyst
Rekt
Capital
said
in
a
Nov.
15
X
post
to
his
more
than
509K
followers
that
BTC
is
still
“very
early
in
its
Parabolic
Phase”
from
a
macro
perspective.
He
did
note,
however,
that
BTC
will
need
to
close
today’s
trading
session
above
$88,715.61
to
prevent
the
price
point
from
turning
into
a
resistance
level.

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