Goldman Sachs expands crypto holdings, increases Ether and Bitcoin ETF investments
Goldman Sachs bets big on regulated digital assets
Goldman Sachs, one of the world’s largest investment banks, has significantly expanded its cryptocurrency portfolio in the fourth quarter of 2024, increasing its exposure to Bitcoin and Ether exchange-traded funds (ETFs).
According to a recent 13F filing submitted to the U.S. Securities and Exchange Commission (SEC) on February 11, 2025, the bank boosted its investments in Ether ETFs to $476 million and in Bitcoin ETFs to over $1.5 billion, as reported by Cointelegraph.
Goldman Sachs increases Bitcoin ETF holdings
The filing revealed that Goldman Sachs increased its stake in the iShares Bitcoin Trust (IBIT) by 88%, bringing its total investment to $1.27 billion. Additionally, the bank raised its holdings in the Fidelity Wise Origin Bitcoin Fund (FBTC) by 105%, bringing the total value to $288 million. These moves indicate Goldman Sachs’ growing confidence in Bitcoin ETFs amid a more favorable regulatory environment for digital assets.
Despite these substantial investments, Goldman Sachs CEO David Solomon maintains a cautious stance on Bitcoin’s role in global finance. He has repeatedly emphasized that Bitcoin remains a speculative asset, citing its high volatility and ongoing regulatory uncertainties.
Goldman Sachs makes a major bet on Ether ETFs
While Bitcoin ETFs remain a key focus, Goldman Sachs has also significantly increased its investment in Ether-based funds. According to the latest SEC filing, the bank’s Ether ETF holdings surged by more than 2,100%, from $22 million to $476 million in the fourth quarter.
The funds were evenly distributed between BlackRock’s iShares Ethereum Trust (ETHA) and Fidelity’s Ethereum Fund (FETH), with an additional $6.3 million allocated to the Grayscale Ethereum Trust ETF (ETHE). This expansion suggests Goldman Sachs expects continued institutional adoption of Ethereum as a key blockchain asset.
Institutional interest and regulatory outlook
The rise in Goldman Sachs’ crypto holdings aligns with the global trend of institutional adoption of digital assets. The bank’s quarterly filings provide insight into its strategic approach, reflecting a more proactive involvement in regulated crypto instruments.
As U.S. regulators continue to refine policies on digital assets, Goldman Sachs’ investment strategy underscores the growing significance of cryptocurrencies in traditional finance. The bank’s diversified exposure to Bitcoin and Ether ETFs may serve as a benchmark for other major financial institutions considering further expansion into the crypto sector.
