Where billionaires invest: why 13F report matters for the crypto industry
Documents from U.S. regulators show that Goldman Sachs and Morgan Stanley purchased more than $600 million in spot Bitcoin ETFs in the second quarter of 2024.
Where billionaires invest: why 13F report matters for the crypto industry - 1
1) Goldman Sachs Holds Over $400M in Bitcoin ETFs
The investment bank says it owns over $400 million in bitcoin ETFs, according to a recently filed 13F.
Goldman Sachs was previously seen as a traditional Wall Street firm that was a Bitcoin skeptic.
Goldman Sachs' 13F filing with the US SEC shows that it holds 7 of the 11 US Bitcoin ETFs, with a total value of approximately $418.65 million as of June 30.
The bulk of that is in $iShares Bitcoin Trust(IBIT)$ , which holds nearly 7 million shares, worth about $238 million as of the end of the second quarter (June 30).
In addition, Goldman Sachs also holds large stakes in $Fidelity Wise Origin Bitcoin Fund(FBTC)$ and $Invesco Galaxy Bitcoin ETF(BTCO)$ , and holds smaller positions in several other Bitcoin ETFs launched in January.
2) Morgan Stanley disclosed a holding of 5.5 million shares, valued at $188 million.
The bankshown interest in $iShares Bitcoin Trust(IBIT)$ also disclosed smaller holdings in the $ARK 21Shares Bitcoin ETF(ARKB)$ and $Grayscale Bitcoin Trust(GBTC)$ .
The filings show that the number of institutions participating in Bitcoin ETFs may be growing.
3)JPMorgan Chase turned out to own five spot Bitcoin ETFs.
The banking giant has invested in the $iShares Bitcoin Trust(IBIT)$ , $Grayscale Bitcoin Trust(GBTC)$ , $ProShares Bitcoin Strategy ETF (BITO)$ , $Fidelity Wise Origin Bitcoin Fund(FBTC)$ , and $Bitwise Bitcoin ETF(BITB)$ , for a total of $760,000 in Bitcoin ETFs.
While the latest round of filings suggests institutional participation in bitcoin ETFs may be growing, ETF issuers and analysts say the products have so far been dominated by retail investors.
Bitcoin prices fell 12% in the second quarter. $Bitcoin(BTC.USD.CC)$
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