John Paulson, the billionaire hedge fund manager who made a forture betting against subprime mortgages is bullish on gold, and gold ETFs in particular. Recent 13F disclousre statements reveal that Paulson’s hedge funds are now the single largest holders of both the SPDR Gold Trust (GLD) and the Market Vectors Gold Miners (GDX), in which Pauson now has a 15% stake.

It had been known that Paulson was investing heavily in individual gold names, but the extent to which he is relying on ETFs to meet his invstment goals should turn heads in the investment world and bolser confidence in the GLD.