TradFi giants are fully entering the game, and Goldman Sachs' BTC exposure has surged to $1.56 billion.

Source: cryptoslate

Compile: Blockchain Knight

According to the latest 13F filing, as of December 31st, Goldman Sachs reported a crypto asset exposure of over $2 billion through BTC and ETH ETFs.

According to its 13F filing, as of the end of the fourth quarter of 2024, Goldman Sachs’ risk exposure to BTC was $1.56 billion, more than twice the $710 million reported in the previous quarter.

The documents submitted to the U.S. Securities and Exchange Commission detail BlackRock’s exposure of over 1.2 billion USD through its IBIT investment, 3.6 million USD through Grayscale’s GBTC investment, and 288 million USD through Fidelity’s FBTC investment.

In addition, the 13F form shows that the value of options trading positions through spot ETF is $760 million. Through FBTC, a put position worth more than $84 million was opened, and through IBIT, a put position worth $527.5 million was opened.

The only long position is worth $157.3 million, also opened through IBIT.

It is worth noting that the third-quarter exposures reported on November 14 by ARK 21shares’ ARKB, Bitwise’s BITB, Grayscale’s mini BTC trust, Invesco Galaxy’s BTCO, and WisdomTree’s BTCW have all been closed.

In terms of shareholding, Goldman Sachs increased its holdings of IBIT and FBTC stocks by 88.5% and 105.2% respectively, while reducing its holdings of GBTC stocks by 97%.

With the increase in BTC exposure, Goldman Sachs’ interest in ETH has also seen a significant quarterly growth.

As of December 31, the value of the traditional financial institution’s spot Ethereum ETF stocks reported was $476.5 million, compared to only $25.1 million on September 30, an increase of nearly 19 times.

The 13F filings show that Fidelity holds a $2.347 billion ETH exposure through FETH, while BlackRock holds a $2.355 billion ETH exposure through ETHA.

Finally, the company reported that Grayscale’s ETH Mini Trust holds a $6.3 million ETH exposure.

However, despite the significant increase in ETH exposure, it only accounts for 30% of Goldman Sachs’ total exposure to crypto assets.