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Goldman Sachs lusting after BTC: it is the 2nd largest holder of IBIT
By Davide Grammatica
Documents filed with the SEC have revealed how Goldman Sachs is the second largest holder of IBIT, BlackRock's Bitcoin spot ETF
Wall Street full of BTC
Bitcoin‘s bull run, as we know, has been driven in recent months by growing institutional demand and new BTC spot ETFs. However, some numbers are equally surprising, such as the one just unveiled of Goldman Sachs ‘ holdings in IBIT.
The Wall Street financial giant, as unveiled in 13F documents filed with the SEC recently, has indeed greatly increased its holdings inBlackRock’s ETF over the past three months, and now stands as the second largest holder of IBIT, with a total stake of $710 million in various ETFs.
There is still room, then, according to several analysts, for further momentum in demand for BTC from financial institutions, which continue to relaunch on the products week after week generating net-inflows always in the billions of dollars range.
Goldman Sachs' bet
Specifically, Goldman Sachs would be exposed to BTC for about $461 million through BlackRock’s iShares Bitcoin Trust (IBIT). Compared to August 2024, the stake has grown by 83 percent, making the giant the second-largest holder of IBIT behind only hedge fund Millennium Management (exposed for $844 million).
Positions are also growing (+13%) in other ETFs, starting with Fidelity‘s Bitcoin Wise Origin ETF (FBTC), but the stake ($95.5 million) remains incomparable to IBIT’s. Further behind still are Grayscale‘s GBTC, still growing but coming in at “only” $71.8 million, and Bitwise ‘s BITB ($22.5 million).
It remains to be seen now where BTC’s rally might go, and how institutional liquidity will affect the price action. Right now, the key psychological support of $90k is the ground on which the most important game is being played.
