Home web3.0 Institutional Investments in Bitcoin Keeps Rising

Institutional Investments in Bitcoin Keeps Rising

Nov 16, 2024 pm 12:52 PM
Bitcoin ETF Goldman Sachs $710 Million

The U.S. Securities and Exchange Commission's (SEC) 13F report for Q3 ending Sept. 30 revealed that Goldman Sachs now owns $710 million in cryptocurrency assets.

Institutional Investments in Bitcoin Keeps Rising

Goldman Sachs’ bitcoin ETF holdings have increased substantially, showcasing the growing interest of institutional investors in bitcoin.

Fresh 13F filings with the U.S. Securities and Exchange Commission (SEC) reveal that Goldman Sachs now holds $710 million in cryptocurrency assets. The filings pertain to institutional investment managers handling assets valued at over $100 million, and are filed on a quarterly basis.

According to the SEC filing, Goldman Sachs has notably expanded its holdings across a portfolio of bitcoin ETFs. The bank's largest position is in Blackrock’s Ishares Bitcoin Trust (IBIT), with 12.7 million shares (valued at $461 million at the time of the filing). This marks a significant increase compared to the last filing in August, which reported holdings of 6.9 million shares or $281 million — an 83% rise.

Fidelity’s Wise Origin Bitcoin ETF (FBTC) also saw an increase, with over 1.7 million shares, valued at $95.5 million, up from the previous filing. Goldman Sachs also increased ownership of the Grayscale Bitcoin Trust (GBTC) by 116%, now holding over 1.4 million shares, amounting to $71.8 million.

The filing further reveals a 156% increase in Bitwise Bitcoin ETF (BITB) holdings, totaling $22.5 million in 650,961 shares. Smaller investments in bitcoin ETFs from Ark Invest and 21shares, Wisdomtree, and Invesco Galaxy were also reported.

These increasing bitcoin holdings have made Goldman Sachs the second-largest IBIT investor, behind only the hedge fund Millennium Management, which has $844 million in holdings.

The spike in Goldman Sachs’ bitcoin ETF holdings coincides with record-breaking inflows into spot bitcoin exchange-traded funds (ETFs). On Thursday, bitcoin ETFs saw a staggering $8 billion in daily trading volume.

Goldman Sachs' decision to up its holdings of bitcoin ETFs is a clear indication to investors and market observers that institutional interest in digital assets is on the rise.

The above is the detailed content of Institutional Investments in Bitcoin Keeps Rising. For more information, please follow other related articles on the PHP Chinese website!

Statement of this Website
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn

Hot AI Tools

Undresser.AI Undress

Undresser.AI Undress

AI-powered app for creating realistic nude photos

AI Clothes Remover

AI Clothes Remover

Online AI tool for removing clothes from photos.

Undress AI Tool

Undress AI Tool

Undress images for free

Clothoff.io

Clothoff.io

AI clothes remover

Video Face Swap

Video Face Swap

Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Tools

Notepad++7.3.1

Notepad++7.3.1

Easy-to-use and free code editor

SublimeText3 Chinese version

SublimeText3 Chinese version

Chinese version, very easy to use

Zend Studio 13.0.1

Zend Studio 13.0.1

Powerful PHP integrated development environment

Dreamweaver CS6

Dreamweaver CS6

Visual web development tools

SublimeText3 Mac version

SublimeText3 Mac version

God-level code editing software (SublimeText3)

Hot Topics

Java Tutorial
1664
14
PHP Tutorial
1267
29
C# Tutorial
1239
24
Goldman Sachs CEO David Solomon Clarifies His Stance on Bitcoin During a CNBC Interview Goldman Sachs CEO David Solomon Clarifies His Stance on Bitcoin During a CNBC Interview Jul 31, 2024 am 09:21 AM

Although he acknowledged bitcoin's volatility and speculative nature, Solomon stated he had “never been on the other side as to whether or not bitcoin would be something that's around.”

Nasdaq and NYSE Withdraw Bitcoin ETF Options Proposals, But Interest Remains Nasdaq and NYSE Withdraw Bitcoin ETF Options Proposals, But Interest Remains Aug 17, 2024 am 03:30 AM

The long-awaited path to Bitcoin ETFs Options on traditional exchanges has hit yet another roadblock. Nasdaq and the New York Stock Exchange (NYSE) have unexpectedly pulled their applications to list and trade options based on two prominent Bitcoin i

Goldman Sachs CEO David Solomon Says Bitcoin Could 'Very Well” Serve as a Store of Value Akin to Gold Goldman Sachs CEO David Solomon Says Bitcoin Could 'Very Well” Serve as a Store of Value Akin to Gold Jul 31, 2024 am 06:42 AM

In a July 30 CNBC interview, Solomon said he has never been a critic of Bitcoin, but he still views it primarily as a speculative investment without a use case.

BlackRock Expands Crypto Offerings as SEC Approves Bitcoin ETF Options BlackRock Expands Crypto Offerings as SEC Approves Bitcoin ETF Options Sep 22, 2024 am 06:45 AM

The SEC has given its approval to BlackRock's 19-b4 application allowing the trading of options in its iShares Bitcoin Trust (IBIT).

The State of Wisconsin Investment Board (SWIB) added 447,651 shares of BlackRock's iShares Bitcoin Trust (IBIT) to its investment portfolio The State of Wisconsin Investment Board (SWIB) added 447,651 shares of BlackRock's iShares Bitcoin Trust (IBIT) to its investment portfolio Aug 15, 2024 am 06:48 AM

The State of Wisconsin Investment Board (SWIB) added 447,651 shares of BlackRock's iShares Bitcoin Trust (IBIT) to its investment portfolio

MicroStrategy ETF's Record Volume Hints Bitcoin (BTC) Price Will Rise, Mirroring Past 'Blue Years' Cycles MicroStrategy ETF's Record Volume Hints Bitcoin (BTC) Price Will Rise, Mirroring Past 'Blue Years' Cycles Aug 17, 2024 am 03:17 AM

MicroStrategy, a major Bitcoin [BTC] player, achieved $22 million in volume on the first day of the ETF, possibly setting a record for leveraged ETFs.

Bitcoin Surges to $62K as BlackRock Primes the Crypto Market for a Major Move Bitcoin Surges to $62K as BlackRock Primes the Crypto Market for a Major Move Sep 22, 2024 pm 09:42 PM

The bitcoin price has climbed to over $62,000 per bitcoin, with traders now turning to a China "shock and awe" earthquake

Bitcoin (BTC) Price Drop Below $58K Raises Concerns, Peter Schiff Warns of Potential Crisis in Cryptocurrency Market Bitcoin (BTC) Price Drop Below $58K Raises Concerns, Peter Schiff Warns of Potential Crisis in Cryptocurrency Market Aug 05, 2024 pm 06:05 PM

Cryptocurrencies have navigated a turbulent landscape in 2024, and recent warnings from economist Peter Schiff have added to the anxiety surrounding the market.