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Goldman Sachs Announced: Bitcoin and Ethereum Investments Reached 2 Billion! - Coin Bulletin
Giant US-based investment bank Goldman Sachs has significantly increased its investments (ETH) Bitcoin (BTC) and Ethereum to the $2 billion mark.
Goldman Sachs significantly strengthened its presence in the crypto market by increasing its spot Bitcoin and Ethereum ETF investments in the fourth quarter of 2024. The bank's Ethereum ETF holdings increased by 2,000%, while Bitcoin ETF investments exceeded $1.5 billion.
In the fourth quarter, the bank's Bitcoin investments reached $1.27 billion, an increase of 88% compared to the previous quarter. The bank became the owner of a total of 24.07 million shares in BlackRock's iShares Bitcoin Trust ETF, the largest spot Bitcoin ETF.
In addition, the investment in Fidelity Wise Origin Bitcoin Fund (FBTC) was increased to 3.5 million shares, raised to $288 million, which means a 105% increase.
Goldman Sachs has also terminated its investments in Bitwise and WisdomTree's Bitcoin ETFs in addition to these two major Bitcoin ETFs. On the other hand, it closed its positions in joint Bitcoin ETFs of Invesco and Galaxy with ARK and 21Shares.
Goldman Sachs, for the first time in the second quarter of 2024, entered the spot crypto ETF market by making a $418 million Bitcoin ETF purchase.
(# Ethereum assets have increased 20 times
On the Ethereum side, Goldman Sachs increased its Ethereum ETF investments from $22 million to $476 million. These investments are almost evenly distributed between BlackRock's iShares Ethereum Trust (ETHA) and Fidelity Ethereum Fund (FETH), with an additional investment of $6.3 million in the Grayscale Ethereum Trust ETF (ETHE).
The bank has thus significantly expanded its share of the Ethereum ETF market.
With the recent investments, it appears that the bank has greatly increased its investments in both Bitcoin and Ethereum ETFs, strengthening its confidence in the crypto market.