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    “Goldman Sachs Discloses Billion-Dollar Investment in Bitcoin”

    One of the distinguished banks currently granting access to Bitcoin (BTC) through its spot exchange-traded funds (ETFs) is Goldman Sachs (NYSE: GS), which recently exposed its significant stakes in spot Bitcoin ETFs.

    In its recent quarterly report to the United States Securities and Exchange Commission (SEC), Goldman Sachs unveiled that it had placed over $400 million in spot Bitcoin ETFs, detailed in the 13F submission for the quarter ending on August 13.

    Within their new portfolios are holdings in BlackRock (NYSE: BLK) iShares Bitcoin Trust valued at $238.6 million, Fidelity Bitcoin ETF at $79.5 million, Grayscale Bitcoin Trust at $35.1 million, and Invesco Galaxy Bitcoin ETF at $56.1 million.

    Furthermore, Goldman Sachs also possesses minor yet significant stakes in Bitcoin ETFs like Bitwise Bitcoin ETF at $8.3 million, ARK 21Shares Bitcoin ETF at $299,900, and WisdomTree Bitcoin ETF at $749,469, as per the bulky SEC filing from the financial services titan.

    Embracing the Bitcoin Trend

    This development is concurrent with other major contenders in the financial sector joining the domain of spot Bitcoin ETFs, exemplified by Morgan Stanley (NYSE: MS) and Wells Fargo (NYSE: WFC) previously, alongside hedge funds like Europe’s Capula, as shown in this instance.

    The approval of 11 Bitcoin spot ETFs by the SEC in the U.S. on January 10 marked the introduction of the premier spot Bitcoin ETF earlier this year, with notable rollouts including iShares Bitcoin ETF, Fidelity Bitcoin ETF, ARK 21Shares Bitcoin ETF, and Bitwise Bitcoin ETF.

    At the latest update, Bitcoin was trading at $61,370, indicating a 3.70% daily surge and a 7.51% weekly climb. These shifts are aiming to reverse the 2.27% monthly dip noted as of August 14.

    Collectively, the acceptance of spot Bitcoin ETFs and the substantial Bitcoin assets held by Goldman Sachs accentuate the surging institutional interest in the primary cryptocurrency and the top asset in the crypto realm by market value, signaling a burgeoning appeal towards the overall crypto industry.

    Image Source: DUSAN ZIDAR / Shutterstock

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