Goldman Sachs has ramped up its investment in BlackRock’s iShares Bitcoin Trust, increasing its shares to 30.8 million, valued over $1.4 billion as of Q1 2025. This represents a 28% increase from prior holdings. Notably, IBIT leads Bitcoin ETFs with about $62.8 billion in assets, attracting significant net inflows since its inception.
Goldman Sachs has significantly boosted its holdings in BlackRock’s iShares Bitcoin Trust (IBIT), now owning 30.8 million shares valued at over $1.4 billion, a 28% increase from its previous 24 million shares. This information was revealed through a recent SEC filing, first reported by MacroScope, and covers the period ending March 31, 2025. Investors are watching closely, as these moves signal Goldman’s growing interest in the cryptocurrency sector.
Back in February, Goldman Sachs had revealed its substantial investments in US spot Bitcoin ETFs, totalling over $1.5 billion. Out of this, approximately $1.2 billion constituted its stake in BlackRock’s IBIT, with the remainder, $288 million, representing its investment in Fidelity’s Bitcoin fund (FBTC). The latest filing did not show any changes in Goldman’s position in FBTC, suggesting a concentrated focus on IBIT.
With the latest acquisition, Goldman Sachs stands as the foremost institutional holder of IBIT. The second largest holder is Brevan Howard, with more than 25 million shares collectively worth near $1.4 billion. Other notable investors in IBIT include Jane Street, Symmetry Investments, and D.E. Shaw & Co., marking the banking giant’s significant presence in the cryptocurrency ETF space.
In its previous disclosures, Goldman Sachs reported holdings in various Bitcoin ETF options, which included $157 million in call options and $527 million in put options for IBIT. Call options profit when prices rise, while put options profit on downturns. However, the latest filing doesn’t mention these options, suggesting that Goldman may have disposed of them or allowed them to expire, indicating a strategic shift during this time.
IBIT continues to dominate the Bitcoin ETF market, currently boasting around $62.8 billion in assets under management. Since its launch in January, the fund has witnessed impressive net inflows of over $44 billion, with approximately $674 million recorded this week alone, signalling strong investor interest. On Friday, shares in IBIT rose by $1.04, reaching a trading value of $58.66, according to data from Yahoo Finance.
