In a move that signals growing confidence in crypto from traditional finance, Goldman Sachs has ramped up its investment in BlackRock’s iShares Bitcoin Trust (IBIT), now holding 30,8 million shares valued at $1,4 billion—a 28% increase since the start of 2025 1. This makes Goldman Sachs the largest institutional holder of IBIT, overtaking other major players like Brevan Howard and highlighting a notable shift in Wall Street’s approach to digital assets 1.
BlackRock’s IBIT ETF: Leading the Pack
BlackRock’s IBIT has become the standout performer among spot bitcoin ETFs in 2025. Over the past 20 trading days, IBIT has attracted net inflows every single day, amassing approximately $5,1 billion in new investments during this period—the longest inflow streak for any spot bitcoin ETF this year 2 3. This surge comes as bitcoin’s price continues to climb, with the total net asset value of U.S.-based spot bitcoin funds now exceeding $121 billion, the highest since January 2.
Why Are Institutions Flocking to IBIT?
Several factors are driving this institutional interest:
• Market Momentum: Bitcoin’s price rally has reignited interest from hedge funds and trading firms, with analysts noting a return of the “basis trade” and increased activity from large investors.
• Regulatory Shifts: Recent meetings between BlackRock and the SEC’s Crypto Task Force suggest a more open regulatory environment, with discussions around staking and options for crypto ETFs.
• Mainstream Adoption: Goldman Sachs’ move follows its first-ever acknowledgment of crypto in its annual shareholder letter, and the firm’s digital assets head has pointed to potential accelerants like stablecoin legislation for further adoption.
Goldman’s Broader Crypto Exposure
Beyond IBIT, Goldman Sachs also holds 3,5 million shares of Fidelity’s spot bitcoin ETF (FBTC), valued at about $315 million, and has previously reported significant options positions in both IBIT and FBTC 1. This diversified approach underscores the bank’s strategy to gain exposure to bitcoin through regulated, traditional financial products.
What Does This Mean for Crypto Investors?
Goldman Sachs’ increased stake in IBIT and the ETF’s record-breaking inflow streak reflect a growing acceptance of bitcoin as a mainstream investment vehicle. As more institutional players enter the market and regulatory clarity improves, spot bitcoin ETFs like IBIT are likely to play a central role in bridging the gap between traditional finance and the crypto world.
