Bitcoin: Goldman Sachs Increases BTC ETF Holdings By 121%
According to its latest SEC 13f filing, Goldman Sachs has significantly increased its Bitcoin (BTC) ETF holdings. As of Q4, the financial giant holds $1.57 billion worth of BTC ETF products, up from $710 million in Q3. The rise translates to a 121% increase over one quarter. Also Read: Top 3 Cryptocurrencies That Could Get ETFs Soon Goldman Sachs Going All In On Bitcoin Source: bitcoininsider.com The increase in BTC ETFs is a bullish development for the crypto industry. The move shows the bullishness of financial institutions. The majority of Goldman Sachs’s BTC ETFs are in BlackRock’s iShares Bitcoin Trust (IBIT). The firm holds 24.07 million IBIT, worth nearly $1.27 billion. The financial institution has increased its IBIT holdings by about 88% from Q3. Also Read: Crypto.com Gets Regulatory Green Light for EEA-Wide Crypto Services The rise in BTC ETF investments may indicate a rise in client demand for the asset. The development could lead to a rise in the underlying asset...