Goldman Sachs Discloses $1.1 Billion Position in Bitcoin ETF Holdings

Bitcoin Magazine

Goldman Sachs Discloses $1.1 Billion Position in Bitcoin ETF Holdings 

Wall Street’s Goldman Sachs has revealed an expansion of its crypto holdings, reporting roughly $2.36 billion in total crypto exposure — including $1.1 billion in Bitcoin ETFs, according to financial holding disclosures.

Bitcoin’s portion of the haul — the largest of any digital asset listed — highlights just how far the venerable investment bank has shifted from earlier skepticism toward meaningful exposure in the world’s largest cryptocurrency by market cap. 

The $1.1 billion position was in IBIT, BlackRock’s iShares Bitcoin Trust ETF.

The SEC filings also revealed holdings of approximately $35.8 million in Fidelity’s Wise Origin Bitcoin Fund, roughly $92,000 in American Bitcoin and approximately $57,000 in Bitcoin Depot and various other bitcoin mining or cloud-based companies. According to the filings, Goldman Sachs also had hundreds of thousands in IBIT calls and puts.

Goldman’s path into Bitcoin began more than half a decade ago with tentative forays into the asset class. In 2022, the firm executed its first known BTC-backed loan and a non-deliverable Bitcoin options trade — milestones that marked early strategic steps into digital assets.

Yet for much of its history, Goldman was publicly circumspect about crypto, with executives in earlier years distancing the bank from Bitcoin as an investable class. 

That posture shifted notably in 2024, when Securities and Exchange Commission (SEC) filings revealed the bank’s first meaningful accumulation of Bitcoin ETFs, including BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund.

Institutional filings from that period show Goldman tripling its Bitcoin ETF stake within months, bringing its holdings to roughly $1.5 billion and making it one of the largest institutional holders of Bitcoin ETFs. 

Filings from today also showed that Goldman Sachs held Ethereum, XRP, and Solana

Recent bitcoin price action 

All this is happening as Bitcoin has struggled to hold its footing above the psychologically key $70,000 level.

Bitcoin saw a sharp selloff last week, breaking down through the $70,000 and $60,000 ranges before finding support near $60,000. After capitulating at that level, bulls managed a strong rebound, pushing the price back up to around $71,700 before closing the week near $70,315. 

Despite the bounce, overall sentiment remains bearish, as bears controlled most of the downside move.

Key resistance levels have shifted following the decline. The first area to watch is $71,800, where the price was rejected. Above that, the 0.382 Fibonacci retracement sits near $74,500, with stronger resistance expected at $79,000 and $84,000.

On the downside, bulls need to hold $65,650 and $63,000 to maintain a reversal attempt. The $60,000 level is now critical support, sitting just above the 0.618 retracement at $57,800, which may represent the true floor. 

This post Goldman Sachs Discloses $1.1 Billion Position in Bitcoin ETF Holdings  first appeared on Bitcoin Magazine and is written by Micah Zimmerman.