Goldman Sachs’s most recent 13F report shows that it has a lot of Bitcoin ETFs. The Securities and Exchange Commission (SEC) said that the big bank has carefully invested in seven Bitcoin ETFs that are available in the U.S. market.
In its portfolio, Goldman Sachs has a major stake in BlackRock’s iShares BTC Trust (IBIT), with almost 7 million shares worth a whopping $238 million.
The company also owns 1.5 million shares of Fidelity’s FBTC ETF, which is worth about $80 million. This thorough disclosure makes it clear how aggressive the institution is in the BTC ETF market, which is growing quickly.
Bitcoin ETF Inflows Rise
The public release of these 13F files indicates a growing interest in Bitcoin ETFs among institutional investors. Recently, more than 500 institutional investors put money into these goods, which shows a major change in the way the market works.
BlackRock’s IBIT has quickly grown to become the third-largest BTC holder. In just six months of business, it saw daily trading volumes of $4.2 million.Recent trends show that money is flowing back into Bitcoin ETFs.
Just this week, a total of $39 million came in. BlackRock’s IBIT received the highest investment of $34.6 million. Fidelity’s FBTC got $22.6 million. On the other hand, as of August 13, Bitwise’s BITB saw $16.5 million come in and Grayscale’s GBTC saw $28.6 million go out.
There is also new interest in the Ethereum ETF market, with BlackRock’s ETHA ETF leading the way. Bitcoin’s price has recently surged, rising 3% in the last 24 hours to $61,000. This increase in both Bitcoin and Ethereum ETF purchases happens at the same time.
Short covering and the nearly-released U.S. CPI inflation figures may further impact the market.The top three Wall Street indices all went up by between 1% and 2% on Tuesday, showing that they were also strong. It will be interesting to see if this bullish trend continues in the coming months, as the crypto market continues to change and major investments grow.
