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Bitcoin ETFs Soar As 3rd Largest US Bank Reveals Ownership In New Filing
The post Bitcoin ETFs Soar As 3rd Largest US Bank Reveals Ownership In New Filing appeared on BitcoinEthereumNews.com. In a notable development highlighting the increasing interest of traditional financial institutions in Bitcoin (BTC), Wells Fargo, the third-largest bank in the United States, has revealed its exposure to spot Bitcoin ETFs. The US Securities and Exchange Commission (SEC) approved the regulated index funds in January, allowing institutions like Wells Fargo to invest in the largest cryptocurrency in the market. This move signifies a significant entry into the Bitcoin market for the bank, as spot Bitcoin ETFs provide a regulated investment vehicle for institutional investors seeking exposure to Bitcoin’s price movements without directly owning the asset. Wells Fargo And BNY Mellon Invest In Bitcoin ETFs According to a recent filing, Wells Fargo holds positions in various spot Bitcoin ETFs. The bank has invested in Grayscale’s spot Bitcoin ETF, the Grayscale Bitcoin Trust (GBTC), ProShares Bitcoin Strategy futures ETF, and shares in Bitcoin Depot Inc. Wells Fargo’s disclosure follows a growing trend among major banks and traditional asset managers investing in spot Bitcoin ETFs. As reported by Bitcoinist, the Bank of New York Mellon Corporation (BNY Mellon), one of the oldest and largest banks in the US, has also revealed its investments in Bitcoin ETFs managed by BlackRock and Grayscale. BNY Mellon’s engagement with Grayscale involved purchasing shares of Grayscale’s Bitcoin Trust, while its involvement with BlackRock’s IShares Bitcoin Trust (IBIT) included acquiring shares of the ETF. These investments, though symbolic in size, highlight the bank’s recognition of Bitcoin’s potential as an asset class. BlackRock And Fidelity Surpass $10B In Assets In Record Time The rapid growth and adoption of Bitcoin ETFs are notable. Bloomberg ETF expert Eric Balchunas pointed out that before the introduction of Bitcoin ETFs, the record for an ETF to reach $10 billion in assets was held by the JPMorgan Nasdaq Equity Premium ETF (JEPQ), which took nearly…
The post Bitcoin ETFs Soar As 3rd Largest US Bank Reveals Ownership In New Filing appeared on BitcoinEthereumNews.com.
In a notable development highlighting the increasing interest of traditional financial institutions in Bitcoin (BTC), Wells Fargo, the third-largest bank in the United States, has revealed its exposure to spot Bitcoin ETFs. The US Securities and Exchange Commission (SEC) approved the regulated index funds in January, allowing institutions like Wells Fargo to invest in the largest cryptocurrency in the market. This move signifies a significant entry into the Bitcoin market for the bank, as spot Bitcoin ETFs provide a regulated investment vehicle for institutional investors seeking exposure to Bitcoin’s price movements without directly owning the asset. Wells Fargo And BNY Mellon Invest In Bitcoin ETFs According to a recent filing, Wells Fargo holds positions in various spot Bitcoin ETFs. The bank has invested in Grayscale’s spot Bitcoin ETF, the Grayscale Bitcoin Trust (GBTC), ProShares Bitcoin Strategy futures ETF, and shares in Bitcoin Depot Inc. Wells Fargo’s disclosure follows a growing trend among major banks and traditional asset managers investing in spot Bitcoin ETFs. As reported by Bitcoinist, the Bank of New York Mellon Corporation (BNY Mellon), one of the oldest and largest banks in the US, has also revealed its investments in Bitcoin ETFs managed by BlackRock and Grayscale. BNY Mellon’s engagement with Grayscale involved purchasing shares of Grayscale’s Bitcoin Trust, while its involvement with BlackRock’s IShares Bitcoin Trust (IBIT) included acquiring shares of the ETF. These investments, though symbolic in size, highlight the bank’s recognition of Bitcoin’s potential as an asset class. BlackRock And Fidelity Surpass $10B In Assets In Record Time The rapid growth and adoption of Bitcoin ETFs are notable. Bloomberg ETF expert Eric Balchunas pointed out that before the introduction of Bitcoin ETFs, the record for an ETF to reach $10 billion in assets was held by the JPMorgan Nasdaq Equity Premium ETF (JEPQ), which took nearly…
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