Goldman Sachs has quietly become one of the biggest institutional players in the spot Bitcoin ETF market.
According to its latest regulatory disclosure, the Wall Street giant now holds over $1.4 billion worth of shares in BlackRock’s Bitcoin ETF, IBIT—making it the fund’s largest shareholder.
As of the end of March, the firm reported owning 30.8 million shares in IBIT, a notable increase of nearly 7 million since its last filing in December. It also maintains a sizable $250 million position in Fidelity’s competing Bitcoin ETF, FBTC, with just over 3.4 million shares—unchanged from the previous quarter.
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The buildup appears to have taken place during Bitcoin’s price correction earlier this year, suggesting Goldman saw it as a buying opportunity.
Interestingly, the firm has also shifted its strategy: it previously held hundreds of millions in IBIT and FBTC options, but those derivatives are now absent from its latest portfolio. The move hints at a more straightforward, long-term commitment to spot exposure.
While CEO David Solomon remains publicly cautious, calling Bitcoin “an interesting speculative asset,” Goldman’s actions suggest growing institutional confidence in the digital asset’s role within diversified portfolios.
Alexander Stefanov
