Goldman Sachs Doubles Down on Bitcoin with Massive Investment in BlackRock ETF

Investment giant Goldman Sachs has significantly increased its Bitcoin holdings. The company disclosed a massive stake of 30.8 million shares in BlackRock’s spot Bitcoin ETF, IBIT, according to its latest 13F filing as of March 31st. This represents a total investment worth approximately $1.4 billion. Goldman Sachs also holds a $250 million position in Fidelity’s spot Bitcoin ETF, FBTC, with 3.47 million shares. Notably, the IBIT position increased by a significant 6.8 million since the previous report in December 2023, coinciding with Bitcoin price declines during this period. Meanwhile, there was no substantial change in the FBTC position.