Goldman Sachs and Morgan Stanley pour over $600 million into Bitcoin ETFs in Q2 2024
In a recent disclosure, Goldman Sachs and Morgan Stanley revealed their substantial investments in spot exchange-traded funds (ETFs) during the second quarter of 2024. Goldman Sachs led the way by acquiring around $418 million in various bitcoin ETFs, with a major stake in BlackRock’s iShares Bitcoin Trust. On the other hand, Morgan Stanley also showed interest in the iShares Bitcoin Trust, along with holdings in other bitcoin ETFs.
The growing institutional interest in bitcoin ETFs is evident from these filings, although retail investors have been the primary players in regulated crypto products. Hedge funds like Hunting Hill Global Capital and Millennium Management LLC also made adjustments to their bitcoin ETF holdings during the quarter.
Overall, these investments signal a shifting landscape in the financial market towards digital assets like bitcoin. It’s crucial for individuals to stay informed about these developments and consider their implications for their own investment portfolios.