Investment banking giant Goldman Sachs GS loaded up more shares of Bitcoin BTC/USD and Ethereum ETH/USD spot exchange-traded funds in the fourth quarter of 2024, according to its latest 13F filing with the SEC.
What happened: The Wall Street giant reported a significant stake in Fidelity Wise Origin Bitcoin Fund FBTC, with 3.53 million shares valued at $288.01 million. Goldman Sachs bought an additional 1.8 million shares of FBTC in the fourth quarter ending Dec. 31.
Additionally, it increased its exposure to the iShares Bitcoin Trust ETF IBIT to $1.27 billion after scooping up an additional 11.30 million shares of the world's largest Bitcoin fund.
Interestingly, the bank sold its entire stake in the ARK 21Shares Bitcoin ETF ARKB and reduced exposure to the Grayscale Bitcoin ETF GBTC.
Its total Bitcoin ETF holdings rose to $1.56 billion, up from $710 million reported in the third quarter.
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The banking behemoth also added to its Ethereum spot ETF positions.
It added exposure to the iShares Ethereum Trust ETF ETHA for the first time, buying 9.31 million shares worth $235.5 million. It reported an increased stake worth $234.69 million in Fidelity Ethereum Fund FETH.
Goldman Sachs' total Ethereum ETF exposure reached $476.5 million at the end of the fourth quarter, a massive increase from a little over $25 million in the previous quarter.
Price Action: Shares of Goldman Sachs closed 0.51% lower at $647.24 during Tuesday's regular trading session, according to data from Benzinga Pro. Year-to-date, the stock has gained 13.03%.
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