Goldman Sachs Doubles Down on Bitcoin With $1.4B IBIT Holdings

According to its latest 13F filing with the U.S. Securities and Exchange Commission (SEC), Goldman Sachs has significantly increased its Bitcoin exchange-traded funds (ETF) holdings

According to its latest 13F filing with the U.S. Securities and Exchange Commission (SEC), Goldman Sachs (NYSE:GS) has significantly increased its Bitcoin (BTC) exchange-traded funds (ETF) holdings. This marks a substantial shift in the investment strategy of the seventh-largest investment bank, fueled by shifting macro conditions and rising institutional demand for crypto.

This discovery comes less than three months after Goldman Sachs acknowledged crypto in its annual shareholder letter for the first time ever.

The Wall Street giant now holds 30.8 million shares of BlackRock’s (NYSE:BLK) iShares Bitcoin Trust (NASDAQ:IBIT), the largest of the spot ETFs, valued at over $1.4 billion. This marks a 28% increase from its holdings at the start of Q1 2025 and makes Goldman the biggest institutional holder of IBIT. By outpacing other major investors such as Brevan Howard and Jane Street, Goldman positions itself at the forefront of institutional crypto exposure.

This comes as the IBIT has enjoyed net inflows over the last 20 trading days, marking the longest winning streak for any spot Bitcoin ETF on the market in 2025. The fund has amassed roughly $5 billion during this period, SoSoValue data shows, outpacing other BTC ETFs in the market.

“One interesting note also is $IBIT taking in SO much more then the rest of them (altho 10 of them have seen inflows). Usually there’s much more parity tho. Why is this? My theory, return of the HF basis trade and some big fish biting after the decoupling and subsequent rally,” Bloomberg’s senior ETF analyst Eric Balchunas noted in an X post earlier this month.

The increased exposure from Goldman, which also holds 3.5 million shares of Fidelity’s Wise Origin Bitcoin ETF (FBTC), the industry’s second-biggest spot BTC ETF by assets under management, comes with the firm’s bullish outlook on Bitcoin.

The investment behemoth previously predicted that BTC could rally to $433,000 in the next few years, especially if institutions continue to allocate capital to the cryptocurrency.

Earlier this year, Goldman Sachs initiated coverage of both Coinbase (NASDAQ:COIN) and Block (NYSE:SQ), setting a ‘neutral’ rating for the former and an outperform rating for the latter.

As of publication, BTC was changing hands at $104,310, just 4% away from its current lifetime high of $108,786 set on January 20.