Goldman Sachs is fully in crypto with $ 1.5 billion Bitcoin ETF investment
- Goldman Sachs announced in his annual report that you keep $ 1.27 billion in Blackrocks Ibit and $ 288 million in Fidelity’s FBTC.
- One year has passed since Bitcoin ETFs in the USA, and the crypto-savvy attitude of the Trump government has led to a significant increase.
For the first time ever, Goldman Sachs, the second largest investment bank in the world, recognized the growing influence of cryptocurrencies in its annual shareholder letter. In his annual report 2024 Goldman Sachs went into the growth of the financial markets and emphasized the effects of new technologies:
“The growth of electronic trade and the introduction of new products and technologies, including commercial and distributed LEDGER technologies such as cryptocurrencies and AI technologies, have tightened the competition.”
Goldman Sachs admitted that the competition for financial services is no longer limited to traditional products:
“We also compete on the basis of the types of financial products and customer experiences that we and our competitors offer. Under certain circumstances, our competitors offer financial products that we do not offer and that may prefer our customers, including cryptocurrencies and other digital assets that we cannot or do not want to offer. ”
As CNF reported in FebruaryGoldman Sachs has increased its Bitcoin engagement through ETFs to $ 2.3 billion, as can be seen from the 13F reports. The company expanded its Bitcoin ETF portfolio with $ 1.27 billion in Blackrocks IBIT and $ 288 million in Fidelity Wise Origin Bitcoin Fund (FBTC), together with additional investments in other Bitcoin-related assets. Other financial giants, including Morgan Stanley and the Bank of America, have also acquired shares in Bitcoin-Spot ETFs in order to further integrate these products into the traditional financial markets and make them accessible to their customers.
Goldman Sachs recognized the potential of blockchain and digital assets, but also pointed out the risks associated with these technologies. The letter warns that financial products that use the distributed Ledger technology could be very volatile and susceptible to cyber threats or have other inherent weaknesses. The company also referred to potential risks in facilitating customer activities in connection with blockchain-based assets, investments in crypto companies and the acceptance of digital assets as security.
Crypto -friendly policy
Under the government of President Donald Trump, the United States has taken a more crypto -friendly attitude and thus signal a change in federal politics to digital assets. On March 7, President Trump organized the first “crypto summit” in the White House. During this event, he signed a implementing regulations for the establishment of a strategic bitcoin reserve.
At the same time, the Securities and Exchange Commission (SEC) released the Staff Accounting Bulletin No. 122 (SAB 122) and thus raised the previous guidelines under SAB 121. SAB 121 had required companies that keep crypto assets for customers to show these assets and the corresponding liabilities in their balance sheets. The abolition caused by extensive feedback by interest representatives encouraged more financial institutions to provide cryptocurrency attitude services.
In addition, the Office of the Compotroller of the Currency (OCC) The regulations relaxed And allows national banks and savings banks to keep cryptocurrencies, to process stablecoin transactions and to operate blockchain nodes, which further integrates digital assets into traditional finance.
Bitcoin achieved an all -time high of almost $ 109,000 in January, at the same time as Trump’s inauguration. Since then, however, he has lost ground and becamerecently traded at $ 83,944which corresponds to an increase of 1.42 % in the last 24 hours. Bitcoin fell by 2.47% last week, with the trading volume recording a slight decline of 1.63%.
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