According to CryptoPotato, Goldman Sachs is among the major banks with notable exposure to Bitcoin exchange-traded funds (ETFs). In its recent quarterly report filed with the U.S. Securities and Exchange Commission, the investment bank disclosed holdings in seven out of the eleven available Bitcoin ETFs in the United States, amounting to approximately $419 million as of June 30. This filing is mandatory for asset managers overseeing more than $100 million in assets.
The report highlighted substantial investments, including $238.6 million in the iShares Bitcoin Trust, equating to 6,991,248 shares. Additionally, Goldman Sachs holds $79.5 million in the Fidelity Bitcoin ETF, totaling 1,516,302 shares, and $35.1 million in Grayscale Bitcoin Trust with 660,183 shares. Other allocations include $299,900 in the ARK 21Shares Bitcoin ETF (5,000 shares), $56.1 million in the Invesco Galaxy Bitcoin ETF (940,443 shares), $8.3 million in the Bitwise Bitcoin ETF (253,961 shares), and $749,469 in the WisdomTree Bitcoin ETF (11,773 shares).
This disclosure follows remarks by Goldman Sachs CEO David Solomon, who described Bitcoin as “speculative” but acknowledged its potential as a “store of value” similar to gold. Goldman Sachs joins other major financial institutions like JP Morgan and Morgan Stanley in offering digital asset exposure to clients. Despite historical caution from CEOs like Solomon and JP Morgan’s Jamie Dimon regarding cryptocurrencies, these banks have established significant institutional exposure to the asset class.
Goldman Sachs has also announced plans to expand its crypto offerings, including three tokenization projects. Meanwhile, JP Morgan has developed Onyx, a blockchain platform for the exchange of digital assets and information, indicating a significant acceleration in its crypto services. Additionally, Morgan Stanley has enabled its 15,000 investment advisors to offer Bitcoin ETFs to clients, as reported in August.
