Leading investment advisers Goldman Sachs and Morgan Stanley are significantly increasing their positions in spot Bitcoin ETFs, signaling the growing interest in cryptocurrencies among mainstream financial institutions. As of the end of the second quarter of 2024, Goldman Sachs’ Bitcoin holdings were worth $418 million, while Morgan Stanley held $188 million. As institutional investors further expand their exposure to crypto assets, including investing in Blackstone Group’s iShares Bitcoin Trust, institutions like the Wisconsin State Pension Fund are also actively increasing their positions.
### Key Points
- **Major Holders**: Goldman Sachs and Morgan Stanley are among the major holders of spot Bitcoin ETFs, showing significant growth in their interest in the cryptocurrency space.
- **Position Size**: As of the end of the second quarter, Goldman Sachs held $418 million in Bitcoin ETFs, while Morgan Stanley held $188 million, a decrease of $87 million from three months ago.
- **Market Leader**: Blackstone’s iShares Bitcoin Trust has become the largest spot Bitcoin ETF and has attracted significant investment from Goldman Sachs and Morgan Stanley.
- **Institutional Adoption**: Investment advisor interest in spot Bitcoin ETFs has increased significantly, reflecting the accelerated pace of adoption in this space by financial institutions.
- **Wisconsin Pension Fund**: The fund significantly increased its Bitcoin ETF holdings in the second quarter while exiting the Grayscale Bitcoin Trust.
- **Hedge Fund Movement**: Prominent hedge funds such as Millennium Management still hold Bitcoin ETFs, while Elliott Management exited the space entirely in the second quarter.