Goldman Sachs Group logo displayed on a smartphone screen and a stock market graph in the background. Source: Rafael Henrique - stock.adobe.com

Key Takeaways:

Goldman Sachs’ Ethereum ETF Holdings Soar – The bank increased its Ether ETF investments by over 2,000% in Q4 2024, reaching $476M, primarily in BlackRock and Fidelity funds.
Bitcoin ETF Exposure Doubles – Goldman’s Bitcoin ETF holdings surged 114% to $1.52B, with major positions in iShares and Fidelity.
Wall Street’s Crypto Shift – Despite past skepticism, Goldman’s expansion into crypto ETFs aligns with rising market prices and institutional adoption.

Goldman Sachs has dramatically expanded its exposure to cryptocurrency exchange-traded funds (ETFs), increasing its Ethereum ETF holdings by over 2,000% in Q4 2024.

According to a Feb. 11 SEC filing, the firm raised its Ether ETF investments from $22 million to $476 million, primarily through BlackRock’s iShares Ethereum Trust (ETHA) and Fidelity’s Ethereum Fund (FETH).

BREAKING:

THE BIGGEST U.S. BANK GOLDMAN
SACHS WITH $2.8 TRILLION JUST
BOUGHT $450M IN ETHEREUM ETF.

BANKS ARE COMING FOR YOUR ETH pic.twitter.com/IPZ0xPEBek
— Ash Crypto (@Ashcryptoreal) February 12, 2025

Additionally, it increased its Bitcoin ETF holdings by 114%, surpassing $1.5 billion.

This included nearly $1.28 billion in BlackRock’s iShares Bitcoin Trust (IBIT) and $288 million in Fidelity’s Wise Origin Bitcoin Fund (FBTC).

Goldman Sachs’ crypto investments reflect the surging market prices, with Bitcoin and Ether rising 41% and 26.3%, respectively, during Q4 2024.

The firm also exited its positions in ETFs from Bitwise, WisdomTree, Invesco & Galaxy, and ARK & 21Shares.

This move underscores Wall Street’s growing embrace of cryptocurrency, despite Goldman Sachs’ historical skepticism.

In 2020, the bank dismissed crypto as an asset class, and in early 2024, its Private Wealth CIO compared crypto enthusiasm to the 17th-century tulip mania.

However, reports suggest Goldman is exploring blockchain-based financial instruments and may launch its own institutional crypto trading platform.