Goldman Sachs jacks up Bitcoin stake by 28%, now holds $1.4B in IBIT

Goldman Sachs has increased its stake in BlackRock’s iShares Bitcoin Trust (IBIT) by 28%, signaling a stronger bet on Bitcoin exposure through traditional finance. 

According to a new filing with the US Securities and Exchange Commission (SEC), Goldman Sachs has significantly increased its exposure to Bitcoin ETFs. As of March 31, the Wall Street giant holds 30.8 million shares of BlackRock’s iShares Bitcoin Trust (IBIT), valued at over $1.4 billion—up from 24 million shares previously.

The updated position, first reported by financial analyst MacroScope, places Goldman Sachs as the largest institutional holder of IBIT, surpassing other major investors like Brevan Howard, which holds over 25 million shares worth nearly $1.4 billion.

Other notable IBIT investors include Jane Street, D.E. Shaw, and Symmetry Investments, reflecting the growing confidence of hedge funds and trading firms in the Bitcoin ETF market.

Goldman Sachs sticks with Fidelity’s Bitcoin fund

Goldman Sachs has already revealed a big position in a number of the US spot Bitcoin ETFs. In his February filing, he listed over $1.5 billion in several Bitcoin ETF products. That figure included $1.2 billion in IBIT and $288 million in  Fidelity’s spot Bitcoin fund (FBTC).

Bank of America continues to be fair value. The latest 13F release from Goldman Sachs shows the bank has made no major changes to its portfolio in FBTC. However, the lack of any Bitcoin options contracts is striking.

By December 2023, the bank owned more than $157 million in call options and more than $527 million in put options on IBIT, a hedged position that would provide gains from price swings. It also had $84 million in put on FBTC.

As market volatility and risk appetite changed, those positions are not listed in the latest report, indicating that Goldman may have eliminated those contracts or let them expire.

IBIT continues to dominate ETF market

IBIT has quickly become the largest of the spot Bitcoin ETFs for BlackRock. As of May early 2025, it has about $62.8 billion in assets under management, Farside Investors figures show.

Since starting the fund, IBIT has taken in over $44 billion in net inflows — a historic clip for any ETF, crypto or not. The fund has $674 million in new inflows so far this week.

On Friday, shares of IBIT climbed by $1.04 to close at $58.66. The price jump tracks a higher rebound for Bitcoin over the past month amid a broader stabilization above $60,000.

Analysts think that Goldman’s growing exposure suggests increasing institutional confidence in the long-term value of Bitcoin—specifically through regulated vehicles like ETFs. These funds allow regular investors to get in on crypto without dealing with self-custody or unregulated exchanges.

Goldman’s expanding presence in the Bitcoin ETF realm is viewed by many as a powerful vote of confidence — not just in Bitcoin but in the development of financial products that facilitate broader access to digital assets.

The move also reflects a bigger shift: Wall Street is increasingly weaving digital assets into standard investment portfolios, particularly as several spot Bitcoin ETFs were greenlit by US regulators recently.

As institutional inflows are anticipated to increase and regulatory clarity continues to take shape, the Bitcoin ETF landscape may still have room for growth. For the moment, Goldman Sachs is in the lead.

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