Bitcoin Twitter (or Bitcoin X) has a moment after a 13f archiving of Goldman Sachs (GS) revealed higher bets in a handful of Spot Bitcoin Exchange-Traded Funds (ETFS), but Facts is less than meeting the eye.

First of all, the ownership of ETFS is not exactly a bet by Goldman Trading Floor on the price of Bitcoin (BTC). The effort is almost certainly owned by the bank’s Asset Management Arm, Goldman Sachs Asset Management, for his clientele.

Secondly, while archiving – which is a snapshot of ownership choice positions with the nominal value of more than $ 600 million (along with a small construction option).

A PUT setting gives the holder the right, but not the obligation, to sell this asset at a predetermined price. It can be seen as protection against price drop and represents a bearish attitude.

“This position of Goldman Sachs, who is similar to many other banks and hedge funds, is not a net long position,” said Coindesk senior analyst James van Straten. “This is a strategy that reflects the basic trade, also known as cash and carrying trade that balances potential profits and risks for Bitcoin price fluctuations. The ETFs had recently had opportunities approved on them, so this is probably a directional shielding.”

With the deadline for the fourth quarter of 13F information that is fast approaching, similar archives-together with misleading headlines is securely on the way for JPMorgan, Morgan Stanley and other major wealth management operations.