Goldman Sachs’ reported Bitcoin holdings have fallen by 45% since its last regulatory filing, a decline driven almost entirely by Bitcoin’s price drop. Based on fourth-quarter 2025 Form 13F disclosures, Goldman Sachs holds indirect exposure to approximately 13,741 Bitcoin through spot Bitcoin exchange-traded funds (ETFs). At the time of the filing, those holdings were valued at about $1.71 billion, reflecting Bitcoin prices near cycle highs late last year. At today’s Bitcoin price of roughly $68,700, the same exposure is now worth about $944 million, implying a decline of approximately $766 million, or around 45%, ... (full story)