US Bancorp, a leading financial institution managing over $600 billion in assets, has made a significant investment of $15 million in Bitcoin exchange-traded funds (ETFs), as stated in their latest filings with the Securities and Exchange Commission (SEC). Half of this investment went towards BlackRock’s IBIT ETF.
The renowned Rothschild family has also joined the trend, revealing that they have purchased $4.2 million worth of IBIT shares through their Swiss-owned bank.
Notably, other influential institutions, such as JPMorgan and the Edmond de Rothschild (Suisse) S.A. bank, have also disclosed their holdings in Bitcoin spot ETFs. These spot ETFs were introduced in January, providing institutions with a secure and regulated way to invest in Bitcoin without concerns about cybersecurity, regulations, or financial risks. Since their launch, multiple global giants have revealed their investments in the leading cryptocurrency.
Among the latest institutions to support Bitcoin are two of America’s largest commercial lenders, US Bancorp and JPMorgan. According to US Bancorp’s SEC filing, they have invested over $15 million in Bitcoin ETFs. Their primary investment is in IBIT, an ETF issued by BlackRock, the world’s largest asset manager. US Bancorp has allocated just over $7 million to IBIT, with $5.4 million invested in Fidelity’s ETF and $3 million in GBTC, the Grayscale ETF that has experienced significant outflows since its launch.
Based in Minnesota, US Bancorp operates the fifth-largest banking institution in the United States. As per their filings, they currently manage assets worth over $660 billion and have invested more than $70 billion.
JPMorgan, the country’s largest bank, has also recently disclosed their venture into Bitcoin ETFs. Their SEC filing revealed a relatively small investment of $1.2 million. This figure may seem modest given the bank’s size, but it signifies Wall Street’s increasing acceptance of Bitcoin. Notably, JPMorgan’s CEO, Jamie Dimon, has been one of the harshest critics of BTC on Wall Street. Despite his skepticism, the bank continues to explore the asset and its underlying technology.
The Rothschild family, one of the world’s most influential families, has also made a move into Bitcoin ETFs. Edmond de Rothschild (Suisse) S.A, their Swiss banking corporation, disclosed an investment of over $4 million in Bitcoin ETFs. The bank has allocated its entire portfolio to BlackRock’s IBIT, with only a small sum of $82,000 going to Grayscale. The Swiss bank is part of a banking conglomerate founded in the 1700s and remains one of Europe’s most influential financial institutions.
Bloomberg’s ETF expert, Eric Balchunas, commented that while the investments made by these banks may seem small, the impressive number of ETF holders is what stands out. In comparison to other ETFs launched around the same time in January, Bitcoin ETFs have gained significant traction.
As the interest in Bitcoin continues to grow, it is important to stay informed about the latest developments. Whether you are considering buying Bitcoin, exploring Bitcoin wallets, or tracking its price, it is crucial to stay up-to-date with the latest news and information.