The detailed breakdown is as follows:
iShares Bitcoin Trust: 6,991,248 shares, valued at $239 million.
Fidelity Wise Origin Bitcoin: 1,516,302 shares, worth $79.55 million.
Invesco Galaxy Bitcoin ETF: 940,443 shares, totaling $56.19 million.
Grayscale Bitcoin Trust: 660,183 shares, valued at $35.15 million.
Bitwise Bitcoin ETF: $8.3 million.
WisdomTree Bitcoin ETF: $749,469.
ARK 21Shares Bitcoin ETF: $299,900.
Contrasting Views on Cryptocurrency
Goldman Sachs’ investment in Bitcoin ETFs contrasts sharply with the past stance of its Chief Investment Officer, Sharmin Mossavar-Rahmani.
“We do not think it is an investment asset class,” Rahmani said. “We’re not believers in crypto.”
Shifting Financial Industry Trends
Goldman Sachs' recent position on Bitcoin reflects a broader trend within the financial sector. Initially marked by skepticism, the industry is increasingly integrating digital assets into mainstream financial products.
This shift is evident as financial giants like Morgan Stanley now permit their advisors to recommend Bitcoin to clients.
During CoinDesk's Consensus 2024 festival, Mathew McDermott, Goldman Sachs' global head of digital assets, highlighted Bitcoin ETFs as a significant psychological milestone for the industry.
McDermott noted that the success of Bitcoin ETFs represents a transformative potential for the financial system, underscoring a broader acceptance of digital assets within institutional finance.