Goldman Sachs increased its spot Ether ETF position by over 2,000% to $476 million in Q4 2024, while its Bitcoin ETF holdings surged to more than $1.5 billion. The bank raised its Ether ETF exposure from $22 million to $476 million, investing in BlackRock’s iShares Ethereum Trust and the Fidelity Ethereum Fund, among others. Its Bitcoin ETF holdings grew by 114%, with nearly $1.28 billion in the iShares Bitcoin Trust and $288 million in the Fidelity Wise Origin Bitcoin Fund. The increased ETF investments correspond to the rising market prices for Bitcoin and Ethereum, which increased by 41% and 26.3% respectively in the same quarter. Despite this significant investment, Goldman Sachs has previously expressed skepticism about cryptocurrency as an asset class, comparing it to historical bubbles like tulip mania.

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