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Goldman Sachs has reported holding $1.558 billion worth of Bitcoin exchange-traded funds (ETFs) from BlackRock and Fidelity.
The firm disclosed this figure in a recent 13F filing with the SEC. The filing, covering the fourth quarter of 2024, details significant increases in Bitcoin ETF positions as of December 31. The latest data highlights Goldman Sachs’ growing exposure to crypto-related investment products.
Goldman Sachs Expands Bitcoin ETF Holdings
The filing shows that Goldman Sachs held $1.27 billion in BlackRock’s iShares Bitcoin Trust (IBIT), translating to 24,077,861 shares. This represents an 88% increase in IBIT shares compared to the previous quarter’s filing.
Additionally, the firm reported $288 million in Fidelity’s Wise Origin Bitcoin Trust (FBTC), equating to 3,530,486 shares. This also reflects a 105% rise in holdings from the prior period.
While these positions grew substantially, the report also indicated that smaller Bitcoin ETF holdings were either reduced or closed. Moreover, Goldman Sachs disclosed an IBIT call position valued at $157 million, alongside IBIT and FBTC, put options worth $527 million and $84 million, respectively.
BlackRock’s IBIT Leads Bitcoin ETF Market
Notably, BlackRock’s IBIT ETF has maintained its position as the leading Bitcoin ETF by inflows, accumulating $40.87 billion in assets. The fund has significantly outpaced competitors, with Fidelity’s FBTC holding $12.6 billion and Ark Invest’s Bitcoin ETF managing $3.0 billion.
Market activity in late January reflected strong investor interest, with IBIT recording inflows of $321.5 million on January 30 and $363.8 million on January 31. Minor outflows were observed on January 29, totaling $28.4 million, and on February 6, with zero net inflows. Despite these fluctuations, IBIT has continued to attract substantial institutional participation.
Institutional Interest and Bitcoin ETF Growth
Recall that BlackRock’s head of digital assets has stated that Bitcoin adoption remains in its early stages, with broader institutional participation expected in the future.
The company’s IBIT launched alongside ten other Bitcoin ETFs in January 2024. One year later, BlackRock’s Bitcoin ETF has become one of the most successful ETF rollouts in history.