Goldman Sachs already bought $400 million worth of Bitcoin ETFs

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Last Updated on 15 August 2024 by CryptoTips.eu

One of the best known (and infamous) investment banks in the world, Goldman Sachs, declared just a few years ago that they “weren’t really into crypto.” Their opinion has since changed as it now appears they already invested more than $400 million in Bitcoin ETFs this year.

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Varoufakis

Recently, both The Guardian and the New York Times presented the 100 best books of the 21st century. The Wall Street Journal also made an attempt, as did the Financial Times.

Since I am an avid reader during the summer holidays, I look at those lists very carefully to check what I can still read. Always included is ‘Adults in the room’, or the story of the Greek Finance Minister Yanis Varoufakis. He details his government’s fight to escape the controls of both the EU and Goldman Sachs during the Euro crisis of 2013 and 2014.

That large investment bank is blamed by many for the Greek tragedy of that time.

Goldman Sachs has tried to rebrand itself in the last decade in order to lose its ‘global bad guy’ image. According to many on social media in the United States, that role has now been taken over by Blackrock, which has crowned itself the most powerful player in the financial market because of its gigantic housing portfolio.

It is precisely the relationship between those two banks that has become interesting for Bitcoin. Both the CEO of Goldman Sachs and BlackRock have been extremely negative about crypto and Bitcoin in recent years. Until BlackRock suddenly filed for a Bitcoin ETF, which it also launched at the beginning of this year, called iBit (or iShares Bitcoin Trust).

You can already guess where Goldman Sachs mainly bought Bitcoin ETFs, of course. Of that $400 million, $250 million went to BlackRock. The bank that once said that they weren’t really into crypto, is investing a very nice sum into it.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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