Goldman Sachs CEO Is Now Considering Entering Crypto Market If Regulators Approve

Key Points:

• Goldman Sachs CEO David Solomon expressed interest in exploring Bitcoin and Ethereum markets.
• The bank has increased its Bitcoin ETF holdings by 71%, now holding $718 million, including a $461 million investment in iShares Bitcoin Trust ETF.

Goldman Sachs CEO David Solomon has shown interest in entering the Bitcoin and Ethereum markets, pending regulatory approval.

Read more: Goldman Sachs Digital Asset Platform Plans New Split in Next 12 Months 

Goldman Sachs CEO Signals Interest in Bitcoin and Ethereum Markets

Solomon’s comments underline the critical role regulatory frameworks play in defining the degree to which traditional financial institutions can interact with digital currencies.

The Goldman Sachs CEO also came out to express optimism about Bitcoin during an interview with CNBC in July. According to him, Bitcoin was gradually becoming a store of value, much like gold. His assertion follows similar sentiments by BlackRock CEO Larry Fink, who termed Bitcoin as a genuine asset class and a qualified investment to hold in personal portfolios.

Goldman Sachs has taken steps in the cryptocurrency space. This was the first major U.S. bank to offer OTC services for digital assets. In 2021, the bank launched CME Group Bitcoin futures trading products as a pathway for customers toward Bitcoin ETFs.

Goldman Sachs Increases Bitcoin ETF Holdings

The firm has also increased its Bitcoin exposure by investing in ETFs. In a filing with the U.S. Securities and Exchange Commission this week, Goldman Sachs disclosed it holds about $718 million in Bitcoin ETFs, with a $461 million stake in BlackRock’s iShares Bitcoin Trust ETF. Goldman Sachs added $300 million to increase its Bitcoin ETF position by 71% since the second quarter.

Goldman Sachs is expecting a spike in “strategic” deals, including large mergers and acquisitions, as companies step up their pace in 2025, according to Reuters.