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Goldman Sachs and DRW Capital Hold Over $600 Million in Spot Bitcoin and Ethereum ETFs, Reveals SEC Filings

Goldman Sachs and DRW Capital Hold Over $600 Million in Spot Bitcoin and Ethereum ETFs, Reveals SEC Filings

Goldman Sachs and DRW Capital have recently revealed that they hold over $600 million in spot Bitcoin and Ethereum exchange-traded funds (ETFs). These disclosures came through their 13F filings with the U.S. Securities and Exchange Commission (SEC). This shows a growing interest from big institutions in digital assets.

Goldman Sachs reported positions in seven out of the eleven Bitcoin ETFs available in the U.S. Their total investment in these funds is nearly $410 million. The largest stake is in the iShares Bitcoin Trust (IBIT), valued at $238.6 million. They also have significant investments of $79.5 million in Fidelity’s Bitcoin ETF (FBTC) and $56.1 million in Invesco Galaxy’s BTC ETF (BTCO). Additionally, they own smaller portions in Bitwise Bitcoin ETF (BITB), WisdomTree Bitcoin Fund (BTCW), and Ark 21Shares Bitcoin ETF (ARKB).

On the other hand, DRW Capital disclosed over $195 million in crypto ETFs. More than $150 million of that is allocated to the Grayscale Ethereum Trust. They diversify their Bitcoin ETF exposure through products from Ark, 21Shares, Bitwise, BlackRock, Fidelity, and ProShares.

Despite these significant investments, the short-term performance of spot Bitcoin ETFs has been somewhat muted. According to data from SoSo Value, these ETFs saw a total inflow of $66.8 million over the past two trading days. IBIT led the way with an inflow of $48 million, followed by ARKB with $29.3 million. In contrast, the Grayscale Bitcoin Trust (GBTC) experienced an outflow of $40.4 million during the same period.

The growing interest from institutional players like Goldman Sachs and DRW Capital is seen as a positive sign for the crypto market. Juan Leon, a senior investment strategist at Bitwise, pointed out that these inflows could significantly impact Bitcoin’s market performance. Since January, inflows into Bitcoin ETFs have topped $17 billion, helping Bitcoin reach an all-time high earlier this year. He added that these inflows don’t even include some of the biggest players in the market. Last week, Morgan Stanley became the first wirehouse to approve Bitcoin ETFs on their platform. Others like Merrill Lynch, UBS, and Wells Fargo are expected to follow suit.

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