Investment bank Goldman Sachs dramatically expanded its cryptocurrency ETF portfolio in Q4 2024, boosting its spot Ethereum ETF holdings by 2,000% while raising Bitcoin ETF investments to over $1.5 billion.
Ethereum ETF Holdings Surge
Goldman Sachs escalated its Ethereum (ETH) ETF exposure from $22 million to $476 million, primarily allocated across:
- BlackRock's iShares Ethereum Trust (ETHA)
- Fidelity Ethereum Fund (FETH)
- Grayscale Ethereum Trust ETF (ETHE) ($6.3 million allocation)
This strategic move was disclosed in the firm's February 11 SEC Form 13F filing.
Bitcoin ETF Portfolio Growth
The bank increased its Bitcoin (BTC) ETF positions by 114% to $1.52 billion, including:
- $1.28 billion in BlackRock's iShares Bitcoin Trust (IBIT) (177% quarterly growth)
- $288 million in Fidelity Wise Origin Bitcoin Fund (FBTC)
- $3.6 million in Grayscale Bitcoin Trust (GBTC)
👉 Discover how institutional investors are leveraging crypto ETFs
Market Context
The holdings expansion coincided with Q4 2024 price rallies:
- Bitcoin: +41% (Coingecko data)
- Ethereum: +26.3%
Goldman Sachs exited positions in several Bitcoin ETF products including:
- Bitwise
- WisdomTree
- Invesco/Galaxy joint product
- ARK/21Shares
Institutional Adoption Trend
This follows Goldman's initial $418 million Bitcoin ETF investment in Q2 2024, reflecting growing Wall Street acceptance of cryptocurrency products amid improving regulatory clarity.
Goldman's Crypto Strategy
While expanding ETF holdings, Goldman Sachs continues developing its blockchain infrastructure plans, including:
- Potential proprietary crypto trading platform
- Financial instrument settlement via blockchain
The bank maintains a cautious public stance, with investment strategist Mossavar-Rahmani previously comparing crypto enthusiasm to "tulip mania" while acknowledging institutional demand.
FAQ
Why did Goldman Sachs increase its Ethereum ETF holdings?
The 2,000% expansion reflects growing institutional confidence in Ethereum's long-term viability and the ETF structure's regulatory safety.
What percentage of Goldman's ETF portfolio is crypto?
Crypto ETFs now represent approximately 3.2% of Goldman's total $50 billion ETF assets under management.
Does Goldman Sachs offer crypto investment advice?
While trading crypto products, the bank continues advising caution regarding cryptocurrency as an asset class for retail investors.
👉 Explore institutional-grade crypto investment strategies
Note: All data sourced from SEC filings and market analytics platforms. Holdings values reflect Q4 2024 snapshots and may have subsequently changed.