Bitcoin ETF

Bitcoin

Spot

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/goldman-sachs-backs-bitcoin-etfs" data-wpel-link="internal" rel="noopener noreferrer nofollow">Goldman Sachs Backs Bitcoin ETFs</a><br></p>
<p style="text-align: justify">Goldman Sachs has disclosed its second-quarter portfolio positions through a 13F filing with the U.S. Securities and Exchange Commission (SEC), revealing investments in seven distinct spot <a href="https://en.bitcoinhaber.net/spot-bitcoin-etfs-draw-significant-interest-from-big-investors" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> ETFs in the U.S. market. This move underscores the banking giant’s strategic interest in the emerging cryptocurrency sector.</p>
<h2 id="spot-bitcoin-etf-holdings">Spot Bitcoin ETF Holdings</h2>
<p style="text-align: justify">A highlight of Goldman Sachs’ investments is its significant stake in BlackRock’s iShares Bitcoin Trust (IBIT) fund, with nearly 7 million shares valued at $238 million. Additionally, Goldman Sachs holds 1.5 million shares in Fidelity’s FBTC ETF, equating to approximately $80 million. The firm also has assets in other spot Bitcoin ETFs, showcasing a diversified investment approach.</p>
<h2 id="institutional-interest">Institutional Interest</h2>
<p style="text-align: justify">The 13F filings, which reveal trading activities of major market players, indicate a growing institutional interest in Bitcoin products. BlackRock’s IBIT has become the third-largest Bitcoin holder within six months of its launch, boasting a daily trading volume of $4.2 million. This trend highlights the increasing institutional engagement with spot Bitcoin ETFs.</p>
<h2 id="market-movements">Market Movements</h2>
<p style="text-align: justify">Recently, there has been a resurgence in investments into spot Bitcoin ETFs, with total inflows amounting to $39 million. BlackRock’s IBIT alone attracted $34.6 million, while Fidelity’s FBTC received $22.6 million, and Bitwise’s BITB saw $16.5 million in new investments. Conversely, Grayscale’s GBTC experienced outflows of $28.6 million.</p>
<h2 id="investment-insights">Investment Insights</h2>
<p style="text-align: justify">Key insights from Goldman Sachs’ investment strategy:</p>
<ul>
 <li>Significant capital allocation to spot Bitcoin ETFs signifies institutional confidence.</li>
 <li>BlackRock’s IBIT fund is a major focus, reflecting its strong <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market performance</a>.</li>
 <li>Bitcoin prices are influenced by ETF market activities, evidenced by recent price surges.</li>
</ul>
<p style="text-align: justify">Bitcoin’s price has gained momentum, rising 3% in the last 24 hours to exceed $61,000. This rally is partly attributed to substantial short position closures ahead of the U.S. Consumer Price Index (CPI) <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data</a> release. The broader market also experienced gains, with Wall Street indices rising by 1-2% on Tuesday, contributing to an overall sense of market recovery. The sustainability of this rally remains uncertain, pending the impact of the forthcoming CPI data.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/goldman-sachs-backs-bitcoin-etfs" data-wpel-link="internal" rel="noopener noreferrer nofollow">Goldman Sachs Backs Bitcoin ETFs</a></h5>

Goldman Sachs Backs Bitcoin ETFs

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