SEC 13f, the latest SEC report. filingGoldman Sachs increased the amount of Bitcoin ETFs it holds. Goldman Sachs now holds BTC ETFs worth $1.57billion, up from $710m in Q3. It represents an increase of 121% in one quarter.
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Goldman Sachs Investing in Bitcoin
It is positive news that the number of BTC ETFs has increased. It shows that financial institutions have a bullish attitude. Goldman Sachs has invested the bulk of their BTC-ETFs into BlackRock’s iShares Bitcoin Trust. Goldman Sachs holds 24,07 million IBIT worth $1.27 billion. Financial institution increased IBIT by 88% since Q3.
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It is possible that the increase in BTC ETF investment could indicate an increased demand from clients for this asset. This could result in a price increase for the asset. Goldman Sachs could have been influenced by the pro-crypto US administration.
Can the Asset Reach A New All Time High?
CoinCodex believes that Bitcoin will continue to rise in value over the next few months. According to the platform, Bitcoin (BTC) will reach its peak in 2025. CoinCodex projects that BTC’s new price peak will be $159,134 by May 8, 2025. A price increase of 65.87% is required to reach $159134.
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BTC may also face a decline. A number of macroeconomic issues could affect the cryptocurrency market. Federal Reserve has suspended interest rate hikes, but it is still to announce any rate cuts. The asset could take a long time to reach its former peak if economic factors continue. It remains to be seen how the asset will perform over the next few weeks.
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Source: watcher.guru
