According to the last SEC 13F FileGoldman Sachs has increased its bitcoin (BTC) ETF holding. From the fourth quarter, the financial giant has $ 1.57 billion in BTC ETF products, up from $ 710 million in the third quarter. The increase means an increase of 121% below a quarter.
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Goldman Sachs enters Bitcoin
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The increase in BTC ETF investment may indicate an increase in customer demand. The development can lead to an increase in the price of the underlying asset. The pro-Crypto administration in the United States may have played a role in Goldman Sach’s decision.
Will the access hit a new highest time?
According to Coincex, Bitcoin (BTC) will continue to collect in the coming months. The platform expects the asset to break its current peak on February 19, 2025. CoinCex predicts BTC to hit a new top of $ 159,134 on May 8 2025. Hitting $ 159,134 from current price levels will mean a rally of about 65.87%.
There is also a possibility that BTC will meet a dip. Macroeconomic factors can be an obstacle to the crypto market. The Federal Reserve has paused interest rate hikes but will not yet announce an interest rate reduction. If economic factors remain, the asset may take much longer to break its previous peak. How the availability performs in the coming weeks is not yet to see.