Goldman Sachs increases its stake in IBIT from BlackRock
Goldman Sachs boosts Bitcoin ETF holdings, now top investor in BlackRock’s IBIT.
Goldman Sachs has increased its stake in BlackRock’s iShares Bitcoin Trust (IBIT) by 28%, now holding 30.8 million shares valued at over $1.4 billion, according to a recent SEC filing.
The move positions Goldman as the largest institutional holder of IBIT, surpassing Brevan Howard, which holds 25 million shares, reports Cryptopolitan.
The increased allocation underscores growing institutional interest in Bitcoin ETFs as a more regulated pathway to crypto exposure.
Goldman Retains Fidelity’s Bitcoin Fund, Reduces Options Contracts
While expanding its position in IBIT, Goldman maintained its investment in Fidelity’s spot Bitcoin fund (FBTC), currently valued at $288 million. However, the bank no longer lists any Bitcoin options contracts, a notable shift from December 2023, when it held over $684 million in IBIT and FBTC options. The change suggests a strategic shift toward direct ETF exposure as market volatility stabilizes.
IBIT Dominates Bitcoin ETF Market Amid Growing Institutional Demand
IBIT has rapidly become the largest spot Bitcoin ETF, managing $62.8 billion in assets and attracting $44 billion in net inflows since its launch. The fund saw $674 million in new inflows this week alone, reflecting renewed confidence in Bitcoin amid its recovery above $60,000. As more institutional players like Goldman Sachs deepen their ETF investments, analysts anticipate further inflows, solidifying Bitcoin ETFs as a mainstream financial product.
Recently we wrote that Bitcoin price is heading into the weekend firmly bullish, having logged its fifth straight weekly advance, and is currently hovering just under $104,000 which is roughly 5% shy of its all-time high at $109,345.
