Biggest Bank Acquiring Shares of BlackRock’s Bitcoin ETF
New data shows that a major global bank is buying shares of asset manager BlackRock’s spot market Bitcoin ETF.
- A recent filing with the SEC reveals that BNP Paribas, the ninth-largest bank globally, invested in the iShares Bitcoin Trust (IBIT).
- BNP Paribas acquired 1,030 shares of IBIT for a total of $41,684.
- The bank’s investment is currently valued at $33,362.
- The move marks a significant entry into the BTC spot market ETF space by a major financial institution.
- Approval for spot market BTC ETPs was granted by the SEC in January after previous rejections.
Financial Giants Embrace BTC ETFs
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BNP Paribas joins a list of financial giants launching their own Bitcoin exchange-traded funds:
- Vaneck
- Bitwise
- Fidelity
- ARK Invest by Cathie Wood
These ETFs offer investors exposure to Bitcoin without the need to directly own the asset.
Prior data indicated that BlackRock contributed to a record day of net inflows into BTC ETFs, reaching $673 million in February.
Bitcoin Price and Market Performance
- Bitcoin is currently trading at $59,255, showing a 4.5% increase in the last 24 hours.
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