The financial firm held about $1.3 billion of BlackRock’s Bitcoin ETF shares and $300 million of Fidelity’s. Exchange-traded funds let investors gain exposure to an asset with

Now, as a Coinbase executive claims Satoshi Nakamoto’s identity may already be known, Wall Street giant Goldman Sachs has quietly confirmed its bought around $2 billion of bitcoin and ethereum exchange-traded funds (ETFs).

The bank's clients are likely involved in the basis trade, rather than making a directional bet, said an analyst.

Goldman Sachs has increased its holdings in spot Ethereum ETFs by 2,000%, while upping its exposure to Bitcoin ETFs to $1.5 billion.

In a recent 13F filing, Goldman Sachs disclosed increasing its Bitcoin holdings in the last quarter of 2024. The major growth of the BTC portion in the bank’s portfolio was immediately noticeable compared to the previous quarter.

U.S. spot Bitcoin ETFs hold $111.78 billion in BTC or 5.92% of its market cap. Goldman Sachs holds $1.27 billion in BlackRock’s BTC ETF and