Goldman Sachs has disclosed that it owns more than $400 million in Bitcoin exchange-traded funds (ETFs), according to a recently filed 13F report. The investment bank's quarterly filing reveals that it holds positions in seven of the eleven Bitcoin ETFs available in the U.S.
Goldman Sachs' largest ETF holding is the iShares Bitcoin Trust (IBIT), valued at $238.6 million. This is followed by Fidelity's Bitcoin ETF (FBTC) with $79.5 million, Invesco Galaxy's BTC ETF (BTCO) at $56.1 million, and Grayscale's GBTC with $35.1 million. The bank also maintains smaller stakes in BITB, BTCW, and ARKB.
On Tuesday, Bitcoin ETFs saw a positive inflow of $4.39 million, as reported by SoSoValue.
Previously, Goldman Sachs had expressed skepticism about cryptocurrency, with Sharmin Mossavar-Rahmani, the bank's chief investment officer for Wealth Management, stating in April that the bank was not a "believer in crypto" and did not view it as a viable investment asset class.