Goldman Sachs’s Bitcoin ETF positions soar: $461M in IBIT, 156% jump in BITB

Goldman Sachs is doubling down on Bitcoin, reveals the latest fillings. The investment bank just expanded its holdings in BlackRock’s iShares Bitcoin Trust (IBIT) to a staggering $461 million. It is an 83% increase from its previous position.

This leap has marked Goldman Sachs as the second-largest holder of IBIT. Its position now stands at 12.7 million IBIT shares which is a massive jump from its previous 6.9 million shares. The firm has clearly taken a major bet on Bitcoin’s future. The biggest crypto price has been soaring, hitting back to back all-time highs on the charts.

Goldman’s BTC ETF bets skyrocket

As per the 13F fillings, Goldman is diversifying its Bitcoin ETF portfolio by doubling down on other investment funds, like Fidelity’s Wise Origin Bitcoin ETF and Grayscale’s Bitcoin Trust. It owns over 1.7 million shares of Fidelity’s Bitcoin ETF (approx. worth $95.5 million). It increased its holdings by 13% from its previous filing.

It’s Grayscale’s GBTC holding surged by 116% from the last filings to stand at 1.42 million shares (approx. worth $71.8 million). And it doesn’t end there as Goldman’s also invested in funds by Invesco, WisdomTree, and Ark/21Shares.

The investment bank holds more than 940K shares in BTCO (approx. worth $59.7 million) and 650k shares in BITB (approx. worth 22.5 million). Bitcoin has surged to new heights, now ranking as the 7th-largest asset globally after surpassing Saudi Aramco. BTC’s market dominance has reached 61.38%.

Bitcoin soars to $93K

Bitcoin price jump after Donald Trump’s US presidential election win has left the trading industry with very high hopes. BTC price skyrocketed by over 32% in the last 30 days. It went on to hit its all time high of $93,434 on November 13. However, Bitcoin is trading at an average price of $88,137, at press time, dealing with the market correction.

Massive inflows into BTC ETFs are one of the major factors behind BTC’s rise. In just the last six days, Bitcoin ETFs have seen $4.7 billion in net inflows. This brings the total for the year to $28.2 billion. BlackRock’s iShares Bitcoin Trust is smashing records with $5 billion in trading volume. It’s outpaced major stocks and ETFs with its $13 billion traded in 3 days.

Meanwhile, after six days of record breaking inflows, Bitcoin ETFs saw a sharp reversal on November 14. They posted a net outflow of $400.7 million. Fidelity’s Bitcoin ETF led the declines with $179.2 million withdrawn. ARK & 21Shares joint ETF lost $161.7 million, Bitwise’s fund lost $113.9 million, and Grayscale products lost $74.9 million.

IBIT stood out, bucking the trend with $126.5 million in net inflows, while VanEck’s HODL ETF also gained $2.5 million.