Goldman Sachs, Morgan Stanley bought $600 million in bitcoin ETF in 2024 (Q2)

[headingnorth]

Interesting. Looks like they both started accumulating a couple of months after the US launch of spot bitcoin ETFs on Jan. 11, 2024.
They may have a lot more bitcoin ETFs by now.

Yahoo Finance
August 15, 2024

Investing.com -- Goldman Sachs and Morgan Stanley invested more than $600 million in spot Bitcoin exchange-traded funds (ETFs) during the second quarter of 2024,
according to regulatory filings released on Wednesday. The filings, known as 13-Fs, provide insights into positions held by institutional investors at the end of each quarter.

Goldman Sachs reported that it acquired roughly $418 million in various bitcoin ETFs. The bulk of this investment was in BlackRock (NYSE:BLK) iShares Bitcoin Trust (NASDAQ:IBIT),
with nearly 7 million shares valued at around $238 million as of June 30.

https://finance.yahoo.com/news/goldman-sachs-morgan-stanley-buy-101717417.html

[Botnake]

Yep, it has increased significantly, and this is the figure ending Sept 30, 2024, and they are ranked 2nd in terms of investment.

Goldman Sachs Discloses $710 Million Bitcoin ETF Holdings in SEC Filing

Goldman is now the second-largest holder of IBIT, trailing only behind the hedge-fund Millennium Management, which has $844 million in holdings.

[tread93]

Yep, it has increased significantly, and this is the figure ending Sept 30, 2024, and they are ranked 2nd in terms of investment.

Goldman Sachs Discloses $710 Million Bitcoin ETF Holdings in SEC Filing

Goldman is now the second-largest holder of IBIT, trailing only behind the hedge-fund Millennium Management, which has $844 million in holdings.

Its nice to see all of these huge big wig financial firms finally accumulating bitcoin like a freshman at a party trying to chug beer from a keg stand upside down! Its kind of funny actually and I have got to say that anyone that has been holding for quite a while ought to be real proud of yourselves because this shit ain't for the weak hearted!

[stadus]

Its nice to see all of these huge big wig financial firms finally accumulating bitcoin like a freshman at a party trying to chug beer from a keg stand upside down! Its kind of funny actually and I have got to say that anyone that has been holding for quite a while ought to be real proud of yourselves because this shit ain't for the weak hearted!

Wait until the market hits a correction....lol, that’s when the weak hands usually show up. But let’s see if it’s still the same now that institutional investors are joining the game. I’m expecting the market to be more stable this time around. Those classic pump-and-dump schemes might not work as easily anymore because the more serious money flows in, the harder it gets to manipulate. Honestly, the only reason I see for the market to collapse now would be some unexpected bad news, but I can’t even think of anything major at the moment. So I guess, my confidence in the market has definitely gone up too.

[hugeblack]

ETF news will be the news that pumps the price, since the approval of US spot Bitcoin exchange-traded funds (ETFs) millions of dollars have flowed in and news may appear about individuals or funds investing in Bitcoin but most of those who bought have already bought and we get the news late in the quarterly disclosure.

[franky1]

technically goldman sachs/morgan did buy bitcoin... BUT
.. they gave it to blackrock. so now its technically blackrocks. because the deal was that goldman/morgan then get given baskets of shares branded as IBIT which goldman can then trade..
so as the yahoo article says that goldman/morgan now hold shares of IBIT valued at X, they are right

more technically blackrock dont have the bitcoin, they dont own the keys. blackrock put the bitcoin into coinbase custody. so the coins are in coinbases possession

.. so goldman and morgan dont own/hold bitcoin. they just hold IBIT shares, and so goldman/morgan have no voting rights or ownership rights of actual bitcoin when holding the shares or managing shares held by their customers/retail investors

[Text]

Since this news is from August, it's very likely their holdings have grown since then.

The interesting thought is, do you think they're actively managing their positions, or taking a more long-term approach? It would be interesting to see if there are any updates on their holdings in future filings.

[avikz]

More and more corporate spending on bitcoin will soon centralize the entire crypto market. These conglomerates are sitting on billions of dollars which allows them to take position where they can control the market at their will. Not good for the crypto market at all.

While some may cheer that corporate money is entering into the crypto market, but slowly the common users will start to feel the heat. SEC should formulate a rule to limit the Bitcoin holdings of Big pocket corporates.

[franky1]

More and more corporate spending on bitcoin will soon centralize the entire crypto market. These conglomerates are sitting on billions of dollars which allows them to take position where they can control the market at their will. Not good for the crypto market at all.

While some may cheer that corporate money is entering into the crypto market, but slowly the common users will start to feel the heat. SEC should formulate a rule to limit the Bitcoin holdings of Big pocket corporates.

the majority of the coin held by blackrock is not new coin fresh from the mines or coins pilfered from naive independent traders who sold at the wrong time.. most of blackrocks holdings is coins that were already locked into a corporation (grayscale) for years prior

as for limiting institutions exposure to crypto. well the BIS is already saying that central banks can only have a medium limit of 2% exposure that can extend to 5% due to volatile cost risk(fast moving price changes) whereby they would need to sell coin if the price exceeded the 5% of their fiat reserves

right now the US central bank could only hold 100k coin and that number would get lower as the market price goes over $100k.. so the higher the price, the less coin US central bank get to hold

[stadus]

ETF news will be the news that pumps the price, since the approval of US spot Bitcoin exchange-traded funds (ETFs) millions of dollars have flowed in and news may appear about individuals or funds investing in Bitcoin but most of those who bought have already bought and we get the news late in the quarterly disclosure.

I totally agree that it’s a major factor, but based on what I’ve seen, and I’m sure many would agree, the big pump really took off after Trump won the election. I think the biggest driver was the belief that regulatory measures under his administration would favor Bitcoin.

The ETFs were already in place, helping drive adoption, but the hype around those potential policies was what lit the fire for the pump. Sometimes it’s not just the fundamentals but the good news and optimism that fuel the market. So let's see where bitcoin will take us this bull run.

[dzungmobile]

I totally agree that it’s a major factor, but based on what I’ve seen, and I’m sure many would agree, the big pump really took off after Trump won the election. I think the biggest driver was the belief that regulatory measures under his administration would favor Bitcoin.

The ETFs were already in place, helping drive adoption, but the hype around those potential policies was what lit the fire for the pump. Sometimes it’s not just the fundamentals but the good news and optimism that fuel the market. So let's see where bitcoin will take us this bull run.

Bitcoin Spot ETF effects happen in many months, and it's not easy to forget that Bitcoin has 7 consecutive months with bullish green, from September 2023 to March 2024. [1]

[1] https://cryptorank.io/price/bitcoin/analytics

Trump's effects, assume so, bring 37% increase in November 2024, but if looking back, in January 2023, it is +39.9%, and in a last bull run, 4 years ago, we have November 2020 (+42.9%) and December (+47.8%). There are Trump's effects, but I don't amplify it.

[FortuneFollower]

I totally agree that it’s a major factor, but based on what I’ve seen, and I’m sure many would agree, the big pump really took off after Trump won the election. I think the biggest driver was the belief that regulatory measures under his administration would favor Bitcoin.

The ETFs were already in place, helping drive adoption, but the hype around those potential policies was what lit the fire for the pump. Sometimes it’s not just the fundamentals but the good news and optimism that fuel the market. So let's see where bitcoin will take us this bull run.

Bitcoin Spot ETF effects happen in many months, and it's not easy to forget that Bitcoin has 7 consecutive months with bullish green, from September 2023 to March 2024. [1]

[1] https://cryptorank.io/price/bitcoin/analytics

Trump's effects, assume so, bring 37% increase in November 2024, but if looking back, in January 2023, it is +39.9%, and in a last bull run, 4 years ago, we have November 2020 (+42.9%) and December (+47.8%). There are Trump's effects, but I don't amplify it.

It's mostly because the cycles are changing themselves, and after halving, Trump was just the final cog in the machine in my book.
But many out there can interpret it differently, the best thing is that the rally is not stopping any time soon.

[franky1]

It's mostly because the cycles are changing themselves, and after halving, Trump was just the final cog in the machine in my book.
But many out there can interpret it differently, the best thing is that the rally is not stopping any time soon.

trump did not cause the november pump, its actually part of the market cycle pattern
if you look at the cycles there was a pump after the 2020(may) halving where price breached the $20k in dec2020(7 months)
if you look at the cycles there was a pump after the 2016(july) halving where price breached the $1.2k in feb2017(7 months)

2024halving(april) +7months=november