Goldman Sachs has made a bold move by significantly expanding its Bitcoin ETF holdings. According to a recent filing with the U.S. Securities and Exchange Commission (SEC), the bank now holds $710 million in Bitcoin ETFs.
As of September 30, Goldman Sachs has observed a 156% increase in $BITB shares and a 116% rise in $GBTC shares since August. This move showcases the bank's heightened interest and confidence in the potential of Bitcoin ETFs.
This development is notable as it reflects a growing acceptance and integration of cryptocurrencies within traditional financial institutions. Goldman Sachs' significant investment is considered a shock to Wall Street, highlighting the evolving landscape of the financial industry.
