The investment vehicle saw significant inflows over the past seven months after the launch of eleven spot Bitcoin ETFs (BTC). BTC’s new high was $73,737, which came after the launch of 11 spot Bitcoin (BTC) ETFs in January. ETF launched has led to financial Goldman Sachs and other giants are now welcoming the original cryptocurrency.
The quarterly 13F filingGoldman Sachs held 418.65 dollars worth of BTC ETF spot shares. BlackRock’s iShares Bitcoin Trust, which consists of approximately 6.9 millions shares valued at around $238.6 Million, is the largest BTC ETF that Goldman Sachs holds.
Divided into holdings
- FBTC: 1.51 million shares are worth approximately $79.5 Million
- Invesco Galaxy Bitcoin: The value of $56.1 million
- Grayscale Converted BTC Fund The value of 660,183 Shares is nearly 35 Million Dollars
- The Other: Bitwise WisdomTree ARK 21Shares and BTC ETFs
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What is driving banks to embrace crypto?
Customer Demands Increase
There is only one reason for this. financial It could be that institutions are increasing their stock of digital assets to meet the demand from clients. Over the past decade, cryptocurrency has experienced a rapid rise.
BTC Performance
BTC has been one of, if no better than the other best performing assets over the past 15 years. Analysts predict that the industry will continue to grow over the next few years. next decade. BTC is expected to reach $1,000,000 by the end of this decade, according to some.
Risk Reduction
ETFs allow institutions to reduce risk by not holding the actual asset.
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Bitcoin ETFs are a new way to invest in bitcoin financial Giants can take a small risk to get their feet wet in the world of digital assets. Future institutions may buy more crypto ETFs.
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Source: watcher.guru