Wall Street giants and US banks are now turning to Bitcoin ETFs, a trend highlighted by SEC filings.
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US banks enter the Bitcoin ETF dance
According to the 13F forms filed with the Securities and Exchange Commission (SEC), many of the leading financial institutions in the United States have begun to invest in Bitcoin ETFs in the first quarter.
Julian Fahrer, CEO of Apollo Sats, pointed out on X that these investments come from investment managers and family offices with assets under management ranging from $200 million to $10 billion. This indicates a broad adoption of Bitcoin by the traditional financial sector.
Among the key players in this trend, American National Bank made its mark by investing in Ark’s ETF, thus signaling a significant change in banks’ behavior towards Bitcoin.
Similarly, Park Avenue Securities LLC, with $9.9 billion in assets under management has made substantial purchases of GBTC shares, further strengthening financial commitment to the cryptocurrency.
In all, institutions from Wall Street with $15 billion in assets under management invested around $4 million in Bitcoin ETFs in the first quarter. Among the largest buyers were Park Avenue Securities LLC with 7328 shares of Grayscale Bitcoin Trust (GBTC) worth $457,780.
More surprising revelations expected mid-May
Last month Matt Hougan, investment director at Bitwise, indicated on X that investors managing beyond 100 million must file 13-F forms detailing their public holdings by May 15.
Although partial, these documents should “surprise on the upside” with the names they contain.
Crypto analyst MacroScope pointed out that some funds wait until the last minute to disclose their positions to preserve secrecy. The most interesting deposits may therefore not arrive until May.
The rise of Bitcoin ETFs at major US financial institutions reflects growing confidence in the long-term value of this asset class. Within just three months, these financial products have shown lightning expansion, reaching a record volume of over $150 billion.
As a journalist at Coinpri, I’ve been captivated by the world of bitcoin and blockchain since 2020. The decentralized aspect of Bitcoin particularly piqued my interest. Since then, I’ve been working constantly to spread my knowledge, hoping one day to see a world where everyone fully enjoys their financial freedom.
