The U.S. Securities and Exchange Commission’s (SEC) 13F report for Q3 ending Sept. 30 revealed that Goldman Sachs now owns $710 million in cryptocurrency assets.

The 13F report is a mandatory quarterly report for institutional investment managers that handle assets worth more than $100 million. The SEC filing specifically showed that Goldman Sachs has expanded its holdings across a portfolio of bitcoin ETFs.

Blackrock’s Ishares Bitcoin Trust (IBIT), of which the bank owns 12.7 million shares (valued at $461 million at the time the filing was produced), is its largest position. Compared to the last filing in August, when the bank reported holdings of 6.9 million shares or $281 million, this indicates an 83% rise. Fidelity’s Wise Origin Bitcoin ETF (FBTC) has more than 1.7 million shares, valued at $95.5 million, a 13% increase.

Goldman Sachs also increased ownership of the Grayscale Bitcoin Trust (GBTC) by 116%, reaching over 1.4 million shares. This amounts to $71.8 million. The filing also reported a 156% increase in Bitwise Bitcoin ETF (BITB) holdings, totaling $22.5 million in 650,961 shares. There were also reports of smaller investments in bitcoin ETFs from Ark Invest and 21shares, Wisdomtree, and Invesco Galaxy.

Due to this rise in bitcoin holdings, Goldman Sachs is now the second-largest IBIT investor, behind only the hedge fund Millennium Management, which has $844 million in holdings.

The spike in Goldman Sachs’ bitcoin ETF holdings coincides with unprecedented inflows into spot bitcoin exchange-traded funds (ETFs). On Thursday, bitcoin ETFs recorded a staggering $8 billion in daily trading volume.

Goldman Sachs’ decision to increase its holdings of bitcoin ETFs is a clear indication to investors and market watchers that institutional interest in digital assets is rising.

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