Goldman Sachs, DRW Hold $600 Million in Bitcoin, Ethereum ETFs

Goldman Sachs and DRW Capital have revealed over $600 million in combined holdings across spot Bitcoin and Ethereum exchange-traded funds (ETFs).

These disclosures, made in recent 13F filings with the US Securities and Exchange Commission (SEC), highlight the growing institutional interest in digital assets.

Institutional Giants Drive Bitcoin ETF Growth, Signaling Long-Term Confidence

Goldman Sachs reported positions in seven of the 11 available Bitcoin ETFs in the US, totaling nearly $410 million. It has the largest stake in the iShares Bitcoin Trust (IBIT), valued at $238.6 million.

The bank’s other notable holdings include $79.5 million in Fidelity’s Bitcoin ETF (FBTC) and $56.1 million in Invesco Galaxy’s BTC ETF (BTCO). Additionally, it holds smaller portions in Bitwise Bitcoin ETF (BITB), WisdomTree Bitcoin Fund (BTCW), and Ark 21Shares Bitcoin ETF (ARKB).

Read more: What Is a Bitcoin ETF?

Similarly, DRW Capital’s filings revealed over $195 million in crypto ETFs. Of this amount, they have allocated more than $150 million to the Grayscale Ethereum Trust. The firm also diversifies its exposure to Bitcoin ETFs across products issued by Ark and 21Shares, Bitwise, BlackRock, Fidelity, and ProShares. 

Despite these significant investments, spot Bitcoin ETFs’ short-term performance has been somewhat subdued. Data from SoSo Value shows that spot Bitcoin ETFs recorded a total inflow of $66.8 million over the past two trading days.

IBIT made the highest contribution with an inflow of $48 million, followed by the ARKB with $29.3 million. In contrast, the Grayscale Bitcoin Trust (GBTC) saw an outflow of $40.4 million during the same period.

Read more: How To Trade a Bitcoin ETF: A Step-by-Step Approach

The growing interest from institutional players like Goldman Sachs and DRW Capital is seen as a bullish signal for the crypto market. Juan Leon, a senior investment strategist at Bitwise, emphasized the potential impact of these inflows on Bitcoin’s market performance.

“Since January, inflows into Bitcoin ETFs have topped $17 billion, pushing Bitcoin to an all-time high earlier this year. These inflows don’t even include some of the biggest players. Last week, Morgan Stanley became the first wirehouse to approve Bitcoin ETFs on their platform. We expect Merrill Lynch, UBS, Wells Fargo, and others to follow suit,” Leon remarked.