Bitcoin ETF

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<a href="https://insidebitcoins.com/news/bitcoin-breaks-above-60k-as-new-addresses-suggest-renewed-interest-from-retail-investors" rel="noopener noreferrer nofollow">Bitcoin</a> crossed above $61K in early Asian trading hours today as traders remain cautious ahead of the release of US CPI (Consumer Price Index) data and a recent filing shows Goldman Sachs holds positions in multiple BTC ETFS (exchange-traded funds).
Since breaching $61K earlier today, BTC has pulled back to trade at $60,856.21 as of 3:20 a.m. EST. Despite this correction, the leading <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">crypto</a> is still up more than 2% over the past 24 hours.
<img decoding="async" src="https://editorial.fxstreet.com/images/Macroeconomics/EconomicIndicator/Prices/CPI/tablet-with-consumer-price-index-cpi-business-concept-gm499730392-80399281_XtraLarge.jpg" alt="Forex Today: Rate cut expectations look at US inflation data">
<h2 id="span-style-font-weight-400-traders-remain-cautious-ahead-of-cpi-release-span">Traders Remain Cautious Ahead Of CPI Release</h2>
Even though BTC was able to reclaim a position above $60K in the past trading session, several traders and trading funds remain cautious ahead of a busy data week.&nbsp;
“Investors remain cautious ahead of US CPI this week,” said QCP Capital in a Telegram broadcast.
Traders will try to gauge if the US Federal Reserve will cut interest rates by 50 or 25 basis points in September, the crypto trading firm added. Currently, the odds of either happening are “evenly split,” according to QCP Capital.
Earlier this week, Richard Kelly, the head of global strategy at TD Securities, said in a <a href="https://www.cnbc.com/2024/08/13/carry-trades-why-strategists-believe-a-major-unwind-is-far-from-over.html" rel="noopener noreferrer nofollow">CNBC interview</a> that he is “very hesitant” that the unwind from the popular yen carry trade is over. “I think there is still a lot that can unwind, especially if you look at how undervalued yen is,” he added.
<h2 id="span-style-font-weight-400-goldman-sachs-holds-over-400-million-in-bitcoin-etfs-span">Goldman Sachs Holds Over $400 Million In Bitcoin ETFs</h2>
In its quarterly <a href="https://www.sec.gov/Archives/edgar/data/886982/000076999324000301/0000769993-24-000301-index.html" rel="noopener noreferrer nofollow">13-F report</a>, Wall Street giant Goldman Sachs disclosed that it holds positions in several <a href="https://insidebitcoins.com/news/bitcoin-and-crypto-not-mentioned-during-trump-musk-x-space" rel="noopener noreferrer nofollow">Bitcoin</a> ETFs. BlackRock’s iShares Bitcoin Trust (IBIT) is the investment bank’s largest position at $238.6 million.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 LATEST: Goldman Sachs discloses $418M worth of <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> ETF holdings.
 — Whale Insider (@WhaleInsider) <a href="https://twitter.com/WhaleInsider/status/1823623360292491409?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 14, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The bank’s next biggest Bitcoin ETF position is in Fidelity’s Bitcoin ETF (IBIT), with $79.5 million. Goldman Sachs also has $56.1 million invested in Invesco Galaxy’s BTC ETF (BTCO) and $35.1 million in Grayscale’s GBTC. The remaining Bitcoin ETFs that the bank has exposure to are BITB, BTCW and ARKB.
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Bitcoin Crosses $61K As Traders Remain Cautious Ahead Of CPI Release And Goldman Sachs Discloses Over $400M BTC ETF Holdings

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