Goldman Sachs, the fifth largest bank in the US, increased its position in Bitcoin ETFs by 121 percent in the fourth quarter of 2024. According to the filing with the SEC 13F report owned $1.57 billion worth of BTC ETFs at the end of the year. The bank primarily acquired shares of the iShares Bitcoin Trust, worth nearly $1.28 billion, and also managed shares of the $288 million Fidelity Wise Origin Bitcoin Fund, among others.

At the time of writing, Bitcoin is trading at $97,100, up 1.5 percent from the previous day. BTC's afternoon correction, which followed unexpectedly high inflation in the US, has already been reversed. However, on the reference date, Dec. 31, 2024, the closing price was $93,800. Based on Goldman Sachs' BTC fund exchanges, this equates to about 16,700 Bitcoin held indirectly by the Wall Street giant.

At the same time, there was an expansion of the Ether ETF position from $22 million to $476 million, with most of the shares again coming from BlackRock and Fidelity. This represents a 2,000 percent increase in Ethereum investments. As recently as April of the previous year, Mossavar-Rahmani, CIO of Goldman Sachs Wealth Management stated, "We don't believe this is an asset class," and claimed that his bank saw no use in crypto.

Apparently, not all of Goldman Sachs' 40,000 employees shared his views at the time. At the end of the year, the bank's Bitcoin and Ethereum ETF shares were worth a total of about $2 billion. In addition to these investments is considering Goldman Sachs now launching its own crypto platform for partners to trade financial instruments based on blockchain technology.