Goldman Sachs Discloses Massive Investments in Bitcoin ETFs During Q2

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Bitcoin ETF: Europe's Capula Management Discloses $500 Mln Holding

Banking giant Goldman Sachs submitted the 13F filing disclosing its portfolio positions during the second quarter of Q2. As per the SEC filing, the banking giant has exposure to seven different Bitcoin ETFs available in the US market.

Goldman Sachs and Bitcoin ETF Exposure

As per the disclosure, Goldman Sachs is holding nearly 7 million shares of BlackRock’s iShares Bitcoin Trust (IBIT) worth a staggering $238 million. Similarly, it holds 1.5 million shares of Fidelity ETF FBTC worth nearly $80 million. Below is the complete disclosure of Goldman Sachs’ holdings across different funds.

These 13F filings specifically highlight how big market players are trading their BTC ETFs. Going ahead, more companies will submit their filings while disclosing their ETF investments during Q2.

The institutional exposure to spot BTC ETFs has been on the rise recently with more than 500 institutional investors allocating funds to these Bitcoin products. Within the first six months of launch, BlackRock’s IBIT has become the third-largest Bitcoin holder while clocking daily trading volumes of $4.2 million.

The inflows into the spot BTC ETFs have resumed once again this week. The total inflows have been $39 million with BlackRock’s IBIT Bitcoin ETF seeing $34.6 million in inflows, Fidelity’s FBTC clocked $22.6 million in inflows, Bitwise’s BITB saw $16.5 million inflows while Grayscale’s GBTC saw $28.6 million in outflows on Tuesday, August 13.

Similarly, the inflows have also resumed into spot Ethereum ETFs with BlackRock’s ETHA taking the lead.

Bitcoin Gains Momentum

The Bitcoin price has gained momentum shooting another 3% in the last 24 hours and moving past $61,000. This rally comes ahead of the scheduled US CPI inflation data release this week which seems to be part of the major short covering in the market. Also, the Wall Street indices showed strength on Tuesday with the top three indices gaining anywhere between 1-2%. It will be interesting to see whether this rally sustains moving ahead from here.

The post Goldman Sachs Discloses Massive Investments in Bitcoin ETFs During Q2 appeared first on CoinGape.

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