Goldman Sachs, one of the largest investment banks, has upped its holdings of Bitcoin exchange-traded fund, according to a recent US Securities and Exchange Commission 13F filing.
Bold move with Bitcoin ETFs
It now holds $1.27 billion worth of the iShares Bitcoin Trust ETF (IBIT), which equates to about 24,077,861 shares, as per The Street. This is an 88% rise in its Bitcoin ETF holdings from its previous filing covering July to September 2024.
According to the report, iShares Bitcoin Trust ETF is a convenient method of exposure to Bitcoin without the institutions actually holding the cryptocurrency, an option which has been becoming increasingly popular with leading financial institutions.
Fidelity Bitcoin Fund
Furthermore, Goldman Sachs has also increased its investment in the Fidelity Wise Origin Bitcoin Fund (FBTC) to $288 million. According to The Street, this is a 105% increase from the last quarter. The Fidelity fund is also a regulated investment product that follows the price of Bitcoin and is another institutionally focused product for those interested in gaining access to the cryptocurrency market, as per the report.
Goldman Sachs adjusts crypto exposure through options
But Goldman Sachs has been trimming its overall crypto exposure, closing out smaller Bitcoin ETF positions, and making Bitcoin options moves. According to the report, on December 31, 2024, the bank had IBIT call options worth $157 million, IBIT put options worth $527 million, and FBTC put options worth $84 million.
Other Bitcoin ETFs see outflows
In the meantime, other Bitcoin ETFs experienced some significant outflows. As per the report, Bitcoin spot ETFs as a group experienced $186.3 million in outflows on February 10. According to data provided by Farside Investors, there were large withdrawals from funds such as the Fidelity Wise Origin Bitcoin Fund, ARK 21Shares Bitcoin ETF, and Grayscale Bitcoin Trust.
Despite mounting Bitcoin ETF outflows that neared $500 million in three days, dip buying by large BTC holders may lead to an imminent market reversal.
Crypto investor sentiment continues to be pressured by global trade tensions between the United States and China, which resulted in nearly $500 million worth of outflows within three days, reinforcing analyst expectations of a forthcoming market bottom.
Despite some gloomy investor sentiment, ARK Invest’s Cathie Wood remains optimistic about Bitcoin’s trajectory to over $1.5 million by 2030, driven by continuing institutional adoption of the world’s first cryptocurrency.
Bitcoin price may reach $1.5 million by 2030 — Cathie Wood
Bitcoin’s chances of reaching $1.5 million are improving as institutional investors increase their exposure to digital assets, according to ARK Invest CEO Cathie Wood.
Bitcoin
BTC $97,587
has been trading under the key $100,000 level since Feb. 4, as investor sentiment has been pressured by global trade war concerns following import tariffs announced by the US and China.
Despite the temporary market slump, Bitcoin’s odds of surpassing $1.5 million a coin have increased, according to Wood.
“Many people know us for our [Bitcoin] bull case, $1.5 million,” said Wood during a
video
published on Feb. 11, adding:
“We actually think the odds have gone up that our bull case will be the right number because of what is becoming the institutionalization of this new asset class.”
Bitcoin retail, ETF outflows mount to $494 million; analysts eye market bottom
Retail investors are increasingly liquidating their Bitcoin holdings amid increasing institutional outflows and global geopolitical tensions.
The number of Bitcoin
BTC $97,587 addresses with a non-zero balance sank below 52.5 million, marking a five-month low last seen in September 2024, Glassnode datashows.
In comparison, the Bitcoin network boasted over 52.6 million such wallets on Jan. 20, when Bitcoin reached an all-time high of $109,000, Cointelegraph Markets Pro data shows.
However, most selling pressure stemmed from the US spot Bitcoin exchange-traded funds (ETFs).
The Bitcoin ETFs recorded more than $251 million of cumulative net outflows on Feb. 12, marking the third consecutive day of net negative outflows, amounting to $494 million, Farside Investors data shows. Still, some analysts say the crypto market is setting up for a reversal, based on growing accumulation among large Bitcoin holders known as whales.
Goldman Sachs, one of the largest investment banks, has upped its holdings of Bitcoin exchange-traded fund, according to a recent US Securities and Exchange Commission 13F filing.
Bold move with Bitcoin ETFsIt now holds $1.27 billion worth of the iShares Bitcoin Trust ETF (IBIT), which equates to about 24,077,861 shares, as per The Street. This is an 88% rise in its Bitcoin ETF holdings from its previous filing covering July to September 2024.
According to the report, iShares Bitcoin Trust ETF is a convenient method of exposure to Bitcoin without the institutions actually holding the cryptocurrency, an option which has been becoming increasingly popular with leading financial institutions.
Fidelity Bitcoin FundFurthermore, Goldman Sachs has also increased its investment in the Fidelity Wise Origin Bitcoin Fund (FBTC) to $288 million. According to The Street, this is a 105% increase from the last quarter. The Fidelity fund is also a regulated investment product that follows the price of Bitcoin and is another institutionally focused product for those interested in gaining access to the cryptocurrency market, as per the report.
Goldman Sachs adjusts crypto exposure through optionsBut Goldman Sachs has been trimming its overall crypto exposure, closing out smaller Bitcoin ETF positions, and making Bitcoin options moves. According to the report, on December 31, 2024, the bank had IBIT call options worth $157 million, IBIT put options worth $527 million, and FBTC put options worth $84 million.
Other Bitcoin ETFs see outflowsIn the meantime, other Bitcoin ETFs experienced some significant outflows. As per the report, Bitcoin spot ETFs as a group experienced $186.3 million in outflows on February 10. According to data provided by Farside Investors, there were large withdrawals from funds such as the Fidelity Wise Origin Bitcoin Fund, ARK 21Shares Bitcoin ETF, and Grayscale Bitcoin Trust.
Despite mounting Bitcoin ETF outflows that neared $500 million in three days, dip buying by large BTC holders may lead to an imminent market reversal.
Crypto investor sentiment continues to be pressured by global trade tensions between the United States and China, which resulted in nearly $500 million worth of outflows within three days, reinforcing analyst expectations of a forthcoming market bottom.
Despite some gloomy investor sentiment, ARK Invest’s Cathie Wood remains optimistic about Bitcoin’s trajectory to over $1.5 million by 2030, driven by continuing institutional adoption of the world’s first cryptocurrency.
Bitcoin price may reach $1.5 million by 2030 — Cathie WoodBitcoin’s chances of reaching $1.5 million are improving as institutional investors increase their exposure to digital assets, according to ARK Invest CEO Cathie Wood.
Bitcoin
BTC $97,587has been trading under the key $100,000 level since Feb. 4, as investor sentiment has been pressured by global trade war concerns following import tariffs announced by the US and China.
Despite the temporary market slump, Bitcoin’s odds of surpassing $1.5 million a coin have increased, according to Wood.
“Many people know us for our [Bitcoin] bull case, $1.5 million,” said Wood during a
木头奶奶深知人性弱点。用巨大的，恐怖的目标价位，吸引人气。
说错了，没关系。
万一对了一次，那够吃十年的了。
这个策略高啊。