New York-based banking titan Goldman Sachs has more than doubled its Bitcoin exchange-traded fund ($BTC EFT) holdings.
The company’s latest quarterly report reveals it now holds $1.57B in $BTC ETFs, more than twice its Q3 2024 value.
Most of Goldman Sachs’ funds – over $1.25B – lie in BlackRock’s IBIT (iShares Bitcoin Trust).
Sachs also holds a sizable chunk of Ethereum ($ETH) ETFs and other crypto options.
Let’s unpack why this matters for the wider crypto market and for new crypto projects like Meme Index.
Goldman Sachs Triples Bitcoin ETF Holdings
In the previous quarter, Goldman Sachs reported it held $461M worth of IBIT shares, which made it the fund’s second-largest holder, only rivaled by Millennium Management with its $844M pile.
Now that Sachs has nearly tripled its IBIT exposure, it outstripped the competition.
Additionally, Sachs bought $288M worth of Fidelity’s FBTC (Wise Origin Bitcoin ETF). Its $3.6M GBTV (Grayscale Bitcoin Trust) holdings, however, remained unchanged.
Sachs’ crypto options now total $760M, and its $ETH portfolio grew nearly 19x from $25.1M last quarter to $476.5M.
Half of Goldman Sachs’ $ETH exposure is through Fidelity’s FETH (Fidelity Ethereum Fund) and half through BlackRock’s ETHA (iShares Ethereum Trust).
It’s worth noting that such an impressive increase also has to do with the surge in $BTC and $ETH value, 40.6% and 26.2% from Q3, respectively.
Overall, the 12 $BTC ETFs saw $40.46B in net inflows since their launch. BlackRock’s IBIT is the largest fund with $40.87B in inflows, followed by Fidelity’s FBTC with $12.60B inflows. Grayscale’s GBTC suffered $21.95B outflows.
The scale of $ETH ETF investments can’t compete with $BTC. Still, institutional interest is evident from $3.17B cumulative inflows. BlackRock yet again leads the pack with its ETHA fund ($4.44B inflows), while Grayscale’s ETHE falls behind with $3.95B outflows.
Meme Index ($MEMEX) Brings Index Investing to the $120B Meme Coin Market
While banking giants build their crypto portfolios, degen investors are reviving old-school TradFi concepts.
Indexes are no longer reserved only for ‘serious’ assets like stocks, bonds, and commodities.
Meme Index ($MEMEX) is rolling out the world’s first meme coin index. Essentially, it provides exposure to the $120B meme coin market through four baskets that cater to different risk appetites.
Each of the baskets contains eight tokens, from OG memes like Dogecoin ($DOGE) to new, volatile players like Fartcoin ($FARTCOIN).
By spreading investment across several projects, you offset potential losses and risk.
The $MEMEX token presale kicked off in January and has already hit the $3.5M milestone. One $MEMEX now costs $0.0160993, but the price is set to increase tomorrow.
Never before did degens have the opportunity to gain exposure to highly speculative assets in such a safe way. Given this unique positioning, $MEMEX could reach $0.074 by the end of 2025 and bring its supporters even greater gains in the long run.
To buy $MEMEX, visit the official presale website, connect your wallet, and pay with $ETH, $BNB, $USDT, or a bank card. Alternatively, secure your share of tokens through Best Wallet’s top presales aggregator.
Goldman Sachs Goes All-In
Goldman Sachs isn’t just dipping its toes in the crypto waters – it’s diving in headfirst.
Wall Street heavyweights investing billions in crypto suggests it is now perceived as a legitimate asset class, which will surely drive broader adoption and innovation.
Meanwhile, the crypto community is taking pages from Wall Street’s book, with creative solutions like $MEMEX providing a safer entry into the meme coin market for risk-averse investors.
As always, though, we remind you to DYOR before investing in any cryptocurrency. The market is notoriously volatile, and even tools like indexes don’t fully mitigate the risk.
