These 4 famous banks have exposure to bitcoin

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Key facts: BlackRock and Fidelity Bitcoin ETFs are part of these banks' investments. JPMorgan bought BTC ETF, despite Jamie Dimon's opinion on Bitcoin. Bitcoin spot exchange-traded funds (ETFs) continue to attract institutional investment into the ecosystem and banks are no exception. Recently, several globally recognized banking institutions have revealed that they have capital invested in these spot ETFs. Wells Fargo, the third largest bank in the United States, is one of those who reported to the SEC about their direct exposure to bitcoin (BTC) ETFs. He did so through a document that he presented to regulators on May 10 of this year. In addition to its holdings in GBTC, the bitcoin spot ETF offered by Grayscale, the bank also has investments in BTC futures and shares of Bitcoin Depot, a company that operates bitcoin ATMs (BATM). PNC Bank, ranked sixth on Forbes' list of large US banks, also disclosed its exposure to BTC spot ETFs with the SEC. Your investment in these ETFs, from six different providers, around USD 10 million.

JPMorgan and its exposure to BTC: an ironic story

America's largest bank, JPMorgan Chase, is another behemoth that reported its bitcoin-related holdings to the SEC. BTC spot ETFs offered by BlackRock, Grayscale, Fidelity and BitWise They are part of your investment portfolio. Like Well Fargo, JPMorgan also owns shares of BATM distributor Bitcoin Depot. The irony in all this lies in the comments and opinion about bitcoin that Jamie Dimon, current CEO of JPMorgan Chase, has held over time. Dimon has called bitcoin a “fraudulent scheme” and exclaimed that the only use cases for BTC involve “criminals, drug traffickers, money laundering and tax evasion.” The executive has even stated that he would dare to “shut down Bitcoin” if he were in government. Although this is something no particular government can do, thanks to the free and decentralized nature of the Bitcoin network. Despite the harsh and constant criticism that Dimon has made about bitcoin, the institution he leads has invested hundreds of thousands of dollars in instruments related to the digital currency created by Satoshi Nakamoto.

Not only American banks are interested in bitcoin

Outside the borders of the United States, the second largest bank in Europe, BNP Paribas, also invested in BTC spot ETFs. It was recently learned that the European giant acquired the equivalent of about USD 40,000 in IBIT, the bitcoin spot ETF offered by BlackRock. Although this is an extremely modest figure, the fact that a bank of this caliber is joining the wave of BTC ETFs is still relevant. Beyond private banking, other institutions related to capital investment, such as the trading company Susquehanna International Group, show their interest in bitcoin spot ETFs. In a recent BitcoinDynamic article it is detailed that the company in question owns more than $1.8 billion in various bitcoin ETFs. The majority of such holdings (55%) lies in Grayscale (GBTC).