Wall Street’s Goldman Sachs has revealed an expansion of its crypto holdings, reporting about $2.36 billion in total crypto exposure — including $1.1 billion in Bitcoin ETFs, according to financial holdings data.
Bitcoin’s share of the move — the largest of any digital asset on the list — highlights how far the venerable investment bank has shifted from earlier skepticism to meaningful exposure in the world’s largest cryptocurrency by market capitalization.
The $1.1 billion position was in IBIT, BlackRock’s iShares Bitcoin Trust ETF.
The SEC filing also disclosed holdings of approximately $35.8 million in Fidelity’s Wise Origin Bitcoin Fund, approximately $92,000 in US Bitcoin and approximately $57,000 in Bitcoin Depot and various other bitcoin mining or cloud-based companies. According to the archives, Goldman Sachs also had hundreds of thousands in IBIT calls and puts.
Goldman’s foray into Bitcoin began more than half a decade ago with tentative forays into the asset class. In 2022, the firm completed its first known BTC-backed loan and a non-deliverable trade in Bitcoin options—milestones that marked early strategic moves in digital assets.
Still, for much of its history, Goldman was publicly bullish on crypto, with executives in earlier years distancing the bank from Bitcoin as an investable class.
That stance changed notably in 2024, when Securities and Exchange Commission (SEC) filings revealed the bank’s first meaningful accumulation of Bitcoin ETFs, including BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund.
Institutional filings from that period show Goldman tripling its Bitcoin ETF stake within months, bringing its holdings to about $1.5 billion and making it one of the largest institutional owners of Bitcoin ETFs.
Filings from today also showed that Goldman Sachs held Ethereum, XRP and Solana
Latest bitcoin price action
All this is happening as Bitcoin has struggled to keep its footing above the psychologically key $70,000 level.
Bitcoin saw a strong sell-off last week, breaking through the $70,000 and $60,000 ranges before finding support near $60,000. After capitulating at that level, the bulls staged a strong rally, pushing the price back to around $71,700 before closing the week near $70,315.
Despite the bounce, the overall sentiment remains bearish as bears controlled most of the downside movement.
Key resistance levels have changed following the decline. The first area to watch is $71,800, where the price was rejected. Above that lies the 0.382 Fibonacci retracement near $74,500, with stronger resistance expected at $79,000 and $84,000.
On the downside, bulls need to hold $65,650 and $63,000 to sustain a reversal attempt. The $60,000 level is now critical support, sitting just above the 0.618 retracement at $57,800, which may represent the true bottom.