Goldman Sachs leads the way, Wall Street institutions aggressively deploy Bitcoin ETF
According to a recent 13F filing, Wall Street financial giant Goldman Sachs significantly increased its Bitcoin ETF holdings in the third quarter, with its holdings jumping from $418 million in the previous quarter to $710 million, a nearly doubling of its holdings. According to Fintel data, Goldman Sachs mainly invests in iShares Bitcoin Trust (IBIT) owned by BlackRock, holding nearly 13 million shares.
Source: Fintel Goldman Sachs significantly increased its Bitcoin ETF holdings in the third quarter
At the same time, Australian investment bank Macquarie Group also entered the market for the first time, purchasing approximately 132,000 shares of IBIT worth US$4.8 million. Other major financial institutions, such as Morgan Stanley, Bank of America, and UBS, have maintained relatively stable holdings.
Source: Fintel Macquarie Group also bought Bitcoin ETF in the third quarter
There is a strong wait-and-see atmosphere in the third quarter, and institutional investment attitudes are conservative
(CoinDesk) Senior Analyst James Van Straten said: "The 13F filing data in the third quarter reflected the weak price trend of Bitcoin at the time. Most institutional investors tended to deploy funds slowly, observe market trends, and did not rush to get stuck. Historical performance A strong fourth quarter.”
In fact, during the third quarter (July to September), the price of Bitcoin roughly fluctuated between $53,000 and $66,000, continuing the sideways trend in the second quarter. This also explains why institutional investors generally take a wait-and-see approach. manner.
The market situation will turn around in the fourth quarter, and institutional investment is expected to accelerate its entry into the market
As the price of Bitcoin broke out of range consolidation in the fourth quarter, breaking through the historical high of US$73,700 set in March, and further climbing to a new high of US$93,400, the market atmosphere changed. Van Straten expects that more institutional investors will jump in in the future, and he expects many institutions to be actively preparing behind the scenes to ensure that their investment portfolios are allocated at least 1% to cryptocurrencies.
Notably, BlackRock also holds about 2.55 million shares in its own Bitcoin ETF, which currently has a market capitalization of $130 million. The continued deployment of these large financial institutions may bring a new wave of investment boom to the cryptocurrency market in the fourth quarter.
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Source: Fintel BlackRock also holds approximately 2.55 million shares in its own Bitcoin ETF fund, with a current market value of US$130 million.
[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.
"Decisive Battle Season 4!" Wall Street giants increase their investment in Bitcoin ETFs, will the encryption market usher in a craze? "This article was first published in "CryptoCity"
