Goldman Sachs reported over $2 billion in crypto exposure through Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETF) as of Dec. 31, according to its latest 13F form.
According to its 13F form, the lender had a $1.56 billion exposure to Bitcoin at the end of the fourth quarter of 2024, over 2x higher than the $710 million reported in the previous quarter.
The filing with the US Securities and Exchange Commission detailed over $1.2 billion in BTC exposure through BlackRock's IBIT, $3.6 million via Grayscale's GBTC, and $288 million via Fidelity's FBTC.
Moreover, the 13F form revealed $760 million in options trading positions through spot ETFs. A put position worth over $84 million was opened through FBTC, in addition to a $527.5 million put position via IBIT. The only call position was worth $157.3 million and also opened through IBIT.
Notably, previous exposure through ARK 21shares' ARKB, Bitwise's BITB, Grayscale's mini Bitcoin trust, Invesco Galaxy's BTCO, and WisdomTree's BTCW reported on Nov. 14 for the third quarter were all closed.
Regarding the share amount, Goldman Sachs reported an 88.5% and 105.2% increase in its IBIT and FBTC shares, respectively. Furthermore, the institution reduced 97% of the GBTC shares it held.
Appetite for Ethereum
Goldman Sachs' appetite for Ethereum (ETH) also saw a significant increase quarter over quarter, along with the rise in its Bitcoin exposure.
As of Dec. 31, the traditional financial institution reported $476.5 million in spot Ethereum ETF shares, compared to just $25.1 million in Sept. 30 — a nearly 19x leap.
The 13F filing revealed $234.7 million in ETH exposure through Fidelity’s FETH and $235.5 million via BlackRock’s ETHA. Lastly, it reported a $6.3 million Ethereum exposure via Grayscale's ETH mini trust.
Despite the significant increase in ETH exposure, it represents just 30% of Goldman Sachs’ total crypto exposure.
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