Goldman Sachs Expands Investments into Ether ETFs

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Goldman Sachs has ramped up its investments in Ether ETFs by an astonishing 2,000%, reaching $476 million by the end of 2024.

Bitcoin investments are also substantial, with Goldman’s BTC ETF holdings rising to $1.5 billion.

According to recent SEC filings, Goldman has made considerable shifts towards major crypto funds. The bank has invested $22 million in major entities like BlackRock’s iShares Ethereum Trust (ETHA) and Fidelity’s Ethereum Fund (FETH), and an additional $6.3 million in the Grayscale Ethereum Trust ETF (ETHE).

On the Bitcoin front, they have invested $1.28 billion in the iShares Bitcoin Trust (IBIT), marking a significant 177% increase from the previous quarter.

Goldman’s strategy suggests an adaptation to a more favorable environment for crypto, indicating a readiness to embrace larger and riskier investments. In this context, Goldman has streamlined its crypto portfolio, moving away from smaller ETFs to concentrate on major players in the market.