TradFi Giants Reveal Their Bitcoin ETF Positions

With a cumulative inflow of more than $17 billion, Bitcoin ETFs have proven to be an attractive and lucrative proposition. But who's buying and who's not?

In a recent round of filings, TradFi institutions have revealed their Bitcoin ETF holdings for all the world to see.

According to Goldman Sachs' quarterly disclosure to the Securities and Exchange Commission (SEC), the firm stated it acquired $418 million worth of Bitcoin ETFs.

Around 7 million shares of BlackRock's IBIT are seen on Goldman Sachs' filing, valued at about $238 million at the end of the quarter.

Fidelity Wise Origin Bitcoin (FBTC), Invesco Galaxy Bitcoin ETFs (BTCO), and Grayscale Bitcoin Trust (GBTC) valued at $78 million, $56 million, and $35 million respectively, were also disclosed by the asset management giant.

Last month, the investment bank said it planned to expand its crypto offerings to include three tokenization projects by the end of the year.

In an interview with Fortune, Goldman Sachs' digital assets global head, Mathew McDermott, revealed that the 150-year-old banking giant is rolling out the products due to demand from investors.

Goldman Sachs Prepares to Launch Three Tokenization Projects by Year-End

Goldman Sachs is planning to launch three tokenization projects by the end of the year, with more crypto-related products potentially on the cards if regulation allows it post-election

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Morgan Stanley also revealed a strong position in IBIT, with 5.5 million shares valued at $187 million.

Meanwhile, Wisconsin's Investment Board revealed holdings of 2.9 million shares in IBIT valued at $98.9 million but also sold out of its GBTC position, which previously stood at more than a million shares valued at $63.7 million.

According to Bitwise's Matt Hougan, total Bitcoin ETF holdings by institutions are up 30% this quarter, with 44% increasing their holdings. 21% decreased their position and 13% completely exited.

Earlier this week, Vanguard, the world's second-largest ETF issuer, firmly planted its flag in the traditional finance camp.

The asset manager's newly appointed CEO, Salim Ramji, has explicitly ruled out the possibility of launching cryptocurrency ETFs, in an interview with etf.com published on Wednesday.

Vanguard Doubles Down on Traditional Finance, Shuns Crypto ETFs

The firm’s new CEO’s views are a stark contrast to the growing enthusiasm for digital assets among many of its peers.

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