February 12, 2025
Diversifying ETF Investments
Goldman Sachs has increased its Ether ETF exposure from $22 million to $476 million, split between BlackRock’s iShares Ethereum Trust (ETHA), Fidelity’s Ethereum Fund (FETH), and the Grayscale Ethereum Trust (ETHE).
The bank also expanded its Bitcoin ETF investments by 114%, purchasing nearly $1.28 billion in iShares Bitcoin Trust (IBIT) shares and $288 million in Fidelity’s Bitcoin Fund (FBTC).
Cautiously Optimistic
Goldman Sachs also closed positions in Bitcoin ETFs from Bitwise, WisdomTree, and others, while continuing its shift into the spot crypto ETF market, after initially buying $418 million worth in Q2 2024. The increase aligns with rising BTC and ETH prices in Q4, which saw 41% and 26.3% growth, respectively.
While expanding its crypto exposure, Goldman Sachs remains cautious about crypto, with CEO Sharmin Mossavar-Rahmani comparing it to the 1600s tulip mania. Despite this, Goldman is exploring launching its own crypto platform for blockchain-based trading.
