Goldman Sachs and DRW Capital said they now hold more than $600 million in assets across both Bitcoin spot and Ethereum exchange-traded funds (ETFs).
The disclosure, made public in a recent 13F filing with the U.S. Securities and Exchange Commission (SEC), shows growing institutional interest in digital assets.
Big Institutions Driving Bitcoin ETF Growth, Signaling Long-Term Confidence
Goldman Sachs reported holdings totaling $410 million in seven of the 11 Bitcoin ETFs in the U.S., with the largest holding being the iShares Bitcoin Trust (IBIT), at $238.6 million.
Other notable holdings of the bank include $79.5 million in Fidelity’s Bitcoin ETF (FBTC), $56.1 million in Invesco Galaxy’s BTC ETF (BTCO), and small holdings in the Bitwise Bitcoin ETF (BITB), WisdomTree Bitcoin Fund (BTCW), and ARK 21Shares Bitcoin ETF (ARKB).
Read more: What is a Bitcoin ETF?
Similarly, DRW Capital’s filings show it holds over $195 million in cryptocurrency ETFs, with over $150 million of that allocated to the Grayscale Ethereum Trust. It also diversified its exposure to Bitcoin ETFs with products from Ark, 21Shares, Bitwise, BlackRock, Fidelity, and ProShares.
Despite these large investments , the short-term performance of the spot Bitcoin ETF has been somewhat lackluster. According to data from Soso Value, the spot Bitcoin ETF has seen a total inflow of $66.8 million over the past two trading days.
IBIT was the top contributor with $48 million inflows, followed by ARKB with $29.3 million. Grayscale Bitcoin Trust (GBTC), on the other hand, saw outflows of $40.4 million during the same period.
Read more: How to Trade Bitcoin ETFs: A Step-by-Step Approach
The growing interest from institutional investors such as Goldman Sachs and DRW Capital is being seen as a bullish signal for the cryptocurrency market. Juan Leon, chief investment strategist at Bitwise, highlighted the potential impact of this inflow on Bitcoin market performance.
“Since January, over $17 billion has flowed into Bitcoin ETFs, driving Bitcoin to record highs earlier this year. And that’s not even including some of the biggest names. Last week, Morgan Stanley became the first wirehouse to approve a Bitcoin ETF on its platform . We expect Merrill Lynch, UBS, Wells Fargo and others to follow suit,” Leon said.
