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Wall Street investment banking giant Goldman Sachs owns more than $700 million in cash bitcoin ETF shares, according to a Nov. 14 filing with the Securities and Exchange Commission. of the US (SEC).
He presentation with the regulator shows that the bank holds approximately $718 million in 8 spot btc ETFs.
Goldman Sachs Holds Substantial Position in BlackRock's IBIT
The presentation shows that the largest place in the bank bitcoin The ETF's holding is in BlackRock's IBIT, and Goldman Sachs has a $461 million investment in the fund. This comes after Goldman Sachs added another $300 million to its bitcoin ETF portfolio since the second quarter of this year, marking a 71% increase in the bank's exposure to these crypto investment products.
In addition to the $461 million investment in IBIT, Goldman Sachs also owns $96 million in Fidelity's Wise Origin bitcoin Fund (FBTC). It has invested $72 million in the Grayscale bitcoin Trust ETF (GBTC) and also approximately $60 million in the Invesco Galaxy bitcoin ETF (BTCO).
The bank's portfolio also includes a $22.5 million investment in Bitwise. bitcoin ETF (BITB), $3 million in the ARK 21Shares bitcoin ETF (ARKB), around $4 million in the Grayscale bitcoin Mini Trust (btc), as well as $800,000 in the WisdomTree bitcoin Fund (BTCW).
Trader Says bitcoin Is Still in Early Stages of 'Parabolic' Phase
The presentation is presented as the largest crypto by market capitalization. <a target="_blank" href="https://coinmarketcap.com/currencies/bitcoin/”>drops more than 1% in the last 24 hours to trade at $90,483.52 at 8:13 am EST. Despite the small correction during the last trading day, the flagship cryptocurrency's weekly performance still remains above 18% in the green.
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<a target="_blank" href="https://twitter.com/hashtag/btc?src=hash&ref_src=twsrc%5Etfw”>#btc
bitcoin has a daily close below both blue levels, but is already trying to reclaim them as support.
The most important thing here would be to prevent them from becoming resistance today.
Macroeconomic bitcoin is still in the early stages of its parabolic phase<a target="_blank" href="https://twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw”>$btc <a target="_blank" href="https://twitter.com/hashtag/crypto?src=hash&ref_src=twsrc%5Etfw”>#crypto <a target="_blank" href="https://twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin https://t.co/ihJkeq8kRc pic.twitter.com/RQ0kRoBaUz
-Rekt Capital (@rektcapital) <a target="_blank" href="https://twitter.com/rektcapital/status/1857369013329797567?ref_src=twsrc%5Etfw”>November 15, 2024
Pseudonymous cryptocurrency analyst and trader Rekt Capital said in a Nov. 15 x post to his more than 509,000 followers that btc is still “very early in its parabolic phase” from a macro perspective. However, he noted that btc will need to close today's trading session above $88,715.61 to prevent the price from becoming a resistance level.
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