In the fourth quarter of 2024, investment bank Goldman Sachs invested over $2 billion in ETF based on Bitcoin and Ethereum.
From October to December, the company acquired:
- BlackRock's iShares Shares Ethereum Trust (ETHA) and Fidelity Ethereum Fund (FETH) worth $454 million, investing in derivatives for $227 million;
- Grayscale Stocks Ethereum Trust ETF (ETHE) worth $6,3 million;
- iShares Shares Bitcoin Trust (IBIT) worth $1,28 billion;
- Fidelity Wise Origin Stocks Bitcoin Fund (FBTC) valued at $288 million.
Thus, as of the end of last year, Goldman Sachs owned shares эфириум - ETF in the amount of $476,5 million and shares bitcoin ETF worth $2,4 billion. It is obvious that the bank’s transactions to purchase fund shares had a positive impact on the exchange rate of Bitcoin and Ethereum, which increased in the fourth quarter by 41% and 26%, respectively.
It is worth noting that cryptocurrency derivatives account for only 0,09% of assets under management by Goldman Sachs, whose value reaches $3,1 trillion. At the same time, judging by the rhetoric of the organization's leaders, the company does not plan to buy digital assets. Most likely, Goldman Sachs will limit itself to investments in derivatives based on virtual currencies. However, the bank may expand the number of different cryptocurrencies ETF in its portfolio after the US authorities give the go-ahead for the issuance of exchange-traded funds based on, for example, XRP ( XRP ) and Solana (SUN).
We don’t view cryptocurrency as an investment asset class. We don’t believe in cryptocurrency,” said Sharmeen Mossavar-Rahmani, chief investment officer at Goldman Private Wealth Management.
