According to its latest SEC 13f filing, Goldman Sachs has significantly increased its Bitcoin (BTC) ETF holdings. As of Q4, the financial giant holds $1.57 billion worth of BTC ETF products, up from $710 million in Q3. The rise translates to a 121% increase over one quarter.

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Goldman Sachs Going All In On Bitcoin

The increase in BTC ETFs is a bullish development for the crypto industry. The move shows the bullishness of financial institutions. The majority of Goldman Sachs’s BTC ETFs are in BlackRock’s iShares Bitcoin Trust (IBIT). The firm holds 24.07 million IBIT, worth nearly $1.27 billion. The financial institution has increased its IBIT holdings by about 88% from Q3.

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The rise in BTC ETF investments may indicate a rise in client demand for the asset. The development could lead to a rise in the underlying asset’s price. The pro-crypto administration in the US may have played a role in Goldman Sachs’ decision.

Will The Asset Hit A New All-Time High?

According to CoinCodex, Bitcoin (BTC) will continue to rally over the coming months. The platform anticipates the asset to breach its current peak on Feb. 19, 2025. CoinCodex predicts BTC to hit a new peak of $159,134 on May 8, 2025. Hitting $159,134 from current price levels will entail a rally of about 65.87%.

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There is also a possibility that BTC will face a dip. Macroeconomic factors may present a barrier to the crypto market. The Federal Reserve has paused interest rate hikes but is yet to announce a rate cut. If economic factors persist, the asset may take much longer to breach its previous peak. How the asset performs over the coming weeks is yet to be seen.