Goldman Sachs, according to the latest form 13F filed by it, reported that as of Dec. 31st there was over 2 billion dollars in crypto-exposure through Bitcoin (BTC), Ethereum ETFs (ETH), etc.
The lender’s 13F report shows that it had an exposure of $1.56billion to Bitcoin by the end of its fourth quarter in 2024. This is more than 2x the amount of $710m reported the quarter before.
The filing with the US Securities and Exchange Commission detailed over $1.2 billion in BTC exposure through BlackRock’s IBIT, $3.6 million via Grayscale’s GBTC, and $288 million via Fidelity’s FBTC.
The 13F revealed that $760,000,000 in positions were traded through ETFs. In addition, a put position of over $84,000,000 was also opened via FBTC. IBIT was also used to open the only call, which had a value of $157.3 Million.
Notably, previous exposure through ARK 21shares’ ARKB, Bitwise’s BITB, Grayscale’s mini Bitcoin trust, Invesco Galaxy’s BTCO, and WisdomTree’s BTCW reported on Nov. 14 for the third quarter were all closed.
Goldman Sachs has reported an increase of 88.5% in IBIT shares and 105.2% in FBTC. Moreover, Goldman Sachs reduced 97% its GBTC shareholdings.
Appetite for Ethereum
Goldman Sachs’ appetite for Ethereum (ETH) also saw a significant increase quarter over quarter, along with the rise in its Bitcoin exposure.
As of Dec. 31, the traditional financial institution reported $476.5 million in spot Ethereum ETF shares, compared to just $25.1 million in Sept. 30 — a nearly 19x leap.
In the 13F filing, it was revealed that Fidelity’s FETH had a $234.7-million ETH exposure and BlackRock’s ETHA held a $235.5-million ETH. Lastly, it reported a $6.3 million Ethereum exposure via Grayscale’s ETH mini trust.
Goldman Sachs total crypto exposure is only 30% despite the substantial increase in ETH.
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