Wealthy investors tap ETFs for three hot assets, according to Goldman Sachs

Some of the world’s wealthiest investors are using exchange-traded funds to access commodities, cryptocurrency and artificial intelligence.

“We tend to find when clients want broad exposure, they want a SMA (separately managed account). For thematic, hedge or risk it tends to be an ETF,” said Meena Flynn, co-head of global private wealth management at the firm, during a presentation of a new report dubbed “One Goldman Sachs Family Office Investment Insights, Adapting to the Terrain.” 

The industry benchmark for a single-family office is at least $100 million of investable assets ranging to $10 billion or more. To qualify as a Goldman Sachs Private Wealth Management client, the minimum assets are $10 million, but the average is closer to $70 million. 

Examples of more well known family offices include Walton Enterprises, an offshoot of Walmart founder Sam Walton’s heirs, Cascade Investment, Bill Gates’ family office and Bezos Expeditions, the Amazon co-founder’s family office. 

In commodities, gold has been a star this year, topping a new record Monday, rising above $3,820.90 an ounce and advancing 45% this year already, with further gains forecasted.

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“Our commodity strategists anticipate gold prices will rise by 14% through mid-2026 due to strong central bank and ETF demand,” according to a report from Goldman’s Global Investment Research division. UBS recently lifted its target to $3,900 an ounce for mid-2026. 

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The yellow metal is commonly used as a safe haven in times of uncertainty. The looming government shutdown could be driving more interest in the precious metal, which benefits when interest rates fall. The Federal Reserve is on track to cut the federal funds rate two more times this year, as tracked by the CME’s FedWatch Tool.

MicroSectors Gold Miners 3X Leveraged ETN and Direxion Daily Junior Gold Miners Index Bull 2x Shares are leading returns, rising 632% and 348% this year, respectively, according to VettaFi. 

Cryptocurrencies, which are getting a boost from the Trump administration’s pro-digital currency policies, have helped push bitcoin to the $114,000 level, down from its all-time intraday high of $124,495.51 reached in August 2025, as tracked by Dow Jones Market Data Group. 

Thirty-one percent of family office participants told Goldman they’d use ETFs to invest in crypto vs. 35% via direct purchase of spot. 

The iShares Bitcoin Trust ETF (IBIT) had its highest percentage increase Monday – 4.9% since May, when it rose 5.38%. Its assets have swelled to over $87 billion. 

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With the AI revolution moving at the speed of light, 52% of family offices are investing through public equities or ETFs, according to the report. 

The Roundhill Generative AI and Technology ETF and VistaShares Artificial Intelligence Supercycle ETF, are among the leaders, up 50% and 46% respectively, according to VettaFi.