Goldman Sachs added nearly 6 million additional shares to Blackrock’s iShares Bitcoin Trust to amplify its bet on Bitcoin ETFs. The bank’s recent filing with the Securities and Exchange Commission said it now owns nearly 31 million shares, up from 24 million in the previous report.
The value of the holding is over $1.4 billion. This makes Goldman Sachs the largest institutional IBIT holder to date, financial analyst MacRoscope said.
Goldman Sachs increases Bitcoin ETF holdings
Goldman’s 30.8 million shares of IBIT are up 28% from its previous 24 million equity holdings, the SEC filing reported. At current market prices, a portion of IBIT is worth more than $1.4 billion.
The macro mirror initially highlighted this change. For comparison, competitor hedge fund Brevan Howard owns just over 25 million shares, and is close to $1.4 billion by himself.
Source: SEC
Goldman Sachs transition to BTC
Last December, Goldman called IBIT and proposed an option. At the time, it had about $157 million in calls and more than $527 million in put options. It also owns $84 million in Fidelity FBTC.
These hedges do not appear in the current report. Allowing them to expire, suggests that Goldman Sachs may be transitioning to Bitcoin prices easier, betting directly.
Image: Source: Esgnews.com
Just in: Goldman Sachs just disclosed $1.65 billion $ btc By Bitcoin ETF – [@MacroScope17] pic.twitter.com/do4vbuhntn
– Bitcoin Archive (@btc_archive) May 9, 2025
IBIT leads ETF $63 billion
BlackRock’s Ishares Bitcoin Trust has grown to nearly $63 billion in asset management, according to Farside Investors data. Since its inception, the fund has amassed approximately $44 billion in net traffic. This week alone, it received $674 million. IBIT shares rose $1.04 to close at $58.66 on Friday as Top Coin recovered more than $60,000.
Wall Street companies follow suit
Goldman Sachs is not the only one. Other heavy-duty businesses (Jane Street, de Shaw and Symmetric Investment) also maintain important IBIT positions. As of February, Goldman itself has reported $1.2 billion in IBIT and $288 million in FBTC.
The transaction shows that large trading desks and hedge funds are seeking Bitcoin in regulated ETFs, rather than futures or unregulated exchanges.
Goldman Sachs’ growing ETF stake is a part of its mainstream portfolio to increase bank confidence in Bitcoin. With over $60 billion in IBIT alone, it is clear that spot Bitcoin ETFs resonate with institutional investors.
Whether and how other large banks will follow and affect Bitcoin prices in the coming months.
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