Goldman Sachs has substantially increased its exposure to Bitcoin by acquiring 30.8 million shares of BlackRock’s iShares Bitcoin Trust (IBIT), currently valued at over $1.4 billion, as reflected in recent SEC filings. This makes the investment bank the largest institutional holder of IBIT, marking a notable vote of confidence in the Bitcoin ETF market. The stake represents a 28% rise over its previous quarter, with Goldman’s total crypto ETF holdings swelling by 50% to $2.05 billion, including nearly $500 million in Ethereum ETFs. Other major institutions, such as Jane Street and D.E. Shaw, are also backing IBIT, reflecting escalating hedge fund and trading firm interest.
BlackRock has further endorsed Bitcoin with a recent purchase of 3,450 BTC (worth $357.7 million) through its iShares Bitcoin Trust, reflecting accelerating institutional adoption. The consistent growth in institutional shareholding of Bitcoin ETFs signals a broader acceptance and a shift in sentiments toward mainstream exposure to digital assets, particularly amid increasing regulatory clarity and market trust in the US.
The developments coincide with Goldman Sachs revising its economic outlook, anticipating the Federal Reserve to cut rates three times in the second half of the year. This dovish stance may fuel more inflows to risk assets, including cryptocurrencies. BlackRock, meanwhile, is actively engaging US regulators on evolving issues like staking and tokenization, highlighting the growing convergence of traditional finance and crypto markets.