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Top U.S. Bank Reveals Major Investment in Bitcoin ETFs

Top U.S. Bank Reveals Major Investment in Bitcoin ETFs

Cryptodnes2024/08/14 10:18
By:Cryptodnes

Goldman Sachs has released its 13F filing for the second quarter, revealing significant investments in several Bitcoin ETFs.

The banking giant holds substantial shares in BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Bitcoin ETF (FBTC), valued at $238 million and $80 million, respectively.

These filings provide insight into how major financial institutions are investing in Bitcoin ETFs. The trend of institutional investment in these products is growing, with over 500 large investors now participating.

BlackRock’s IBIT, in particular, has quickly become a significant player, reaching daily trading volumes of $4.2 million within six months of its launch.

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Tether CEO Warns: Bitcoin and Gold Are Key Amid Global Tensions

Recently, Bitcoin ETFs have seen a resurgence in inflows, with BlackRock’s IBIT receiving $34.6 million and Fidelity’s FBTC attracting $22.6 million. However, Grayscale’s GBTC faced $28.6 million in outflows. Additionally, spot Ethereum ETFs are also gaining traction, led by BlackRock’s ETHA.

In summary, Goldman Sachs’ 13F filing highlights its robust engagement with Bitcoin ETFs, reflecting a broader trend of increasing institutional interest in cryptocurrency investments.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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