Goldman Sachs has significantly expanded its Bitcoin ETF holdings, as revealed in its latest 13F filing with the United States Securities and Exchange Commission (SEC).

The Wall Street giant holds $710 million in various Bitcoin Exchange Traded Funds (ETFs)according to his last SEC deposit for the quarter ending September 30.

A 13F filing is an SEC-mandated quarterly report for institutional investment managers with more than $100 million in assets under management.

For investors and market watchers, Goldman is expanding its Bitcoin ETF holdings are a strong indicator of growing institutional interest in digital assets.

The bank’s largest exposure lies in the BlackRock portfolio iShares Bitcoin Trust (IBIT), where it now holds 12.7 million shares valued at $461 million at the time of filing. This represents an 83% increase from its previous filing in August of 6.9 million shares, then valued at $281 million.

With this, Goldman becomes the second largest holder of IBIT, behind hedge fund Millennium Management, which comes in first with $844 million in assets.

The filing also shows Goldman adding to its positions in other major Bitcoin ETFs. The bank now owns more than 1.7 million shares in Fidelity’s Wise Origin Bitcoin ETF (FBTC), worth $95.5 million, an increase of 13%.

It also increased its stake in the Grayscale Bitcoin Trust (GBTC) by 116%, bringing his holdings to more than 1.4 million shares valued at $71.8 million. Goldman also increased its holdings in the Bitwise Bitcoin ETF (BITB) by 156%, totaling 650,961 shares worth $22.5 million.

Other smaller holdings in the Invesco Galaxy, WisdomTree and ARK 21Shares Bitcoin ETFs have also been reported.

The increase in investment in Goldman’s Bitcoin ETFs comes amid record inflows into spot Bitcoin ETFs. Last week, BlackRock’s IBIT surpassed its long-running iShares Gold ETF (IAU) in terms of net assets, a feat considering IBIT only launched in January.

The market rally is attributed to expectations of a pro-crypto regulatory environment under the Trump administration, with promises to support crypto mining and establish a Bitcoin reserve.

Edited by Stacy Elliott.