Goldman Sachs Continues Showing Interest in Bitcoin, Ethereum and other Cryptocurrencies
Back in November, Goldman Sachs submitted its 13F filing to the US SEC. According to the filing, the financial giant holds around $710 million worth of Bitcoin (BTC) ETFs already as of September 30, 2024. The BlackRock iShares BTC ETF is the preferred pick from Goldman Sachs, with the firm holding $461 million. The increase in Goldman Sachs’ holdings highlights its bullishness on Bitcoin (BTC). Many had anticipated a rally if Donald Trump won the US Presidential election, which came to fruition. BTC hit an all-time high of $93,477.11 on Nov. 13, 2024. Since then, BTC has surpassed the $100k mark on multiple occasions but currently sits at $94,973.17. Furthermore, the firm also released a note earlier this week revealing its stance on crypto entering 2025. The investment bank’s crypto trading desk is reportedly open for business with a variety of offerings. These include BTC and ETH CME futures clearing, along with OTC non-deliverable forwards (NDF) and options (NDO). Institutional crypto adoption appears to be growing, and Goldman Sachs could be one of the biggest dominos to fall in that area.
