Goldman Sachs has revealed substantial investments in Bitcoin exchange-traded funds (ETFs) totaling approximately $718 million, as disclosed in its SEC filing on November 14. The bank's exposure to Bitcoin ETFs increased by 71% since the second quarter of this year, after adding $300 million to its portfolio. Notably, $461 million of this amount is invested in BlackRock’s spot Bitcoin ETF, the iShares Bitcoin Trust ETF (IBIT). Additionally, Goldman Sachs holds $96 million in Fidelity’s Wise Origin Bitcoin Fund, $72 million in the Grayscale Bitcoin Trust ETF, and smaller amounts in various other Bitcoin ETFs. Apart from Bitcoin, the bank also invested $22 million in Ether ETFs. Historically, Goldman Sachs has expressed skepticism about Bitcoin and cryptocurrencies, with executives previously dismissing them as unsuitable investments.

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