In a strong show of confidence in the crypto ETF space, Goldman Sachs has significantly increased its stake in BlackRock’s iShares Bitcoin Trust (IBIT), now holding over 30.8 million shares valued at $1.4 billion as of March 31, 2025. This represents a 28% increase from its previous holding of 24 million shares, according to a recent SEC filing first reported by MacroScope.This strategic move solidifies Goldman Sachs as the largest institutional holder of IBIT, surpassing prominent players like Brevan Howard, Jane Street, Symmetry Investments, and D.E. Shaw & Co.
Institutional Bet on Bitcoin ETFs Grows
Goldman Sachs’ move aligns with its earlier February 2025 disclosure, where it revealed over $1.5 billion in U.S. spot Bitcoin ETF holdings, including $1.2 billion in IBIT and $288 million in Fidelity’s FBTC. While its position in FBTC remains unchanged, the expanded stake in IBIT signals the bank’s growing conviction in BlackRock’s crypto offering.
Notably, Goldman’s latest filing shows a lack of Bitcoin options contracts previously reported in December, which included $157 million in IBIT call options and $527 million in put options. Their absence now suggests that Goldman has either closed or allowed these positions to expire, possibly reflecting a stronger bullish stance on spot Bitcoin ETF performance.
IBIT: Market Leader in Bitcoin ETFs
BlackRock’s iShares Bitcoin Trust remains the largest and most influential Bitcoin ETF, currently managing $62.8 billion in assets. Since its launch in January 2025, the fund has attracted more than $44 billion in net inflows, showing strong institutional and retail interest.
Recent inflows remain impressive, with $674 million recorded just this week, according to Farside Investors. On Friday, IBIT shares closed at $58.66, up $1.04 for the day, as per Yahoo Finance data.
A Strategic Shift in Crypto Investment
Goldman Sachs' increased exposure to IBIT suggests more than just portfolio diversification—it reflects a broader trend among institutional players leaning into regulated, transparent exposure to Bitcoin via ETFs rather than direct crypto holdings.
With options contracts no longer in play, the bank's simplified, straightforward investment into IBIT could hint at expectations of long-term growth in Bitcoin's price and greater market stability in the ETF landscape.
Conclusion
Goldman Sachs' aggressive accumulation of BlackRock’s IBIT positions it at the forefront of institutional crypto investment. With the ETF sector continuing to expand and Bitcoin adoption rising globally, Goldman’s $1.4 billion bet reinforces the narrative that Bitcoin is gaining mainstream financial legitimacy.
As more traditional finance giants follow suit, the line between crypto and conventional markets continues to blur.
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