Between distrust and fascination, banks seem to have found a new muse: Bitcoin. Once cautious, the financial giants are changing their tune, and Goldman Sachs is no exception. This once-skeptical bank has jumped on the crypto bandwagon, accumulating hundreds of millions of dollars in BTC via ETFs. The shift is clear, and the figures speak for themselves: time to decipher this audacious strategy.
Goldman Sachs: 71% more in Bitcoin ETFs
Goldman Sachs has doubled down on Bitcoin. According to an SEC filing, the bank now owns $718 million in Bitcoin ETF. This amount includes an increase of 300 million since the second quarter of 2024, a jump of 71%.
Among his investments, the star remains BlackRock's $461 million iShares Bitcoin Trust ETF. Added to this are significant sums in the funds of Fidelity, Grayscale and Invesco.
Some notable figures:
- BlackRock (IBIT): $461 million;
- Fidelity (Wise Origin Fund): $96 million;
- Grayscale Bitcoin Trust: $72 million;
- Invesco Galaxy Bitcoin ETF: $60 million.
These movements mark a radical change for an institution which, in 2020, declared that Bitcoin “ was not an asset class “.
Crypto: a historic turnaround at Goldman Sachs
The contrast is striking. In 2020, Goldman Sachs was still criticizing Bitcoin, comparing the craze to a speculative bubble like tulipomania of the 17th century. However, in 2024, the approach has changed: investing in Bitcoin and Ethereum products has become strategic.
The bank also allocated $22 million to Ethereum ETFsnotably via Grayscale and Fidelity.
Why this reversal? Institutional investors see crypto a lever for the future. As one Goldman Sachs executive summed up, “ demand has changed, and we must adapt » .
This turnaround reflects a major trend: institutions no longer want to miss the digital train.
The tide has turned for Goldman Sachs. Bitcoin and cryptos are no longer marginal phenomena but unavoidable opportunities. Major investors have understood: the time has come for action so as not to miss the revolution in progress.
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