350% or 5BTC + 150 Spins!
New players only. Exclusive Welcome Bonus of 350% + 150 Free Spins
One of the biggest banks in the United States, BNY Mellon, currently owns about $13 million worth of Bitcoin exchange-traded fund (ETF) shares. According to a recent disclosure made to the U.S. Securities and Exchange Commission (SEC), the bank has 111.87 million worth of WisdomTree Bitcoin Fund (BTCW) shares, totaling 115,108 shares. It also owns 25,309 shares, valued at around $1.4 million, of BlackRock’s iShares Bitcoin Trust (IBIT).
There are other big banks that invest in Bitcoin ETFs besides BNY Mellon. Growing institutional interest in digital assets is shown by JPMorgan Chase’s acquisition of over $1 million worth of Bitcoin ETF shares.
Although JPMorgan and BNY Mellon have entered the Bitcoin ETF market gradually, Goldman Sachs has made a larger commitment. At the moment, the company has $196.3 million worth of Ethereum (ETH) ETF shares and $1.63 billion worth of Bitcoin ETF shares.
In 2024, Bitcoin and Ethereum exchange-traded funds (ETFs) were introduced, giving investors access to these assets without having to buy cryptocurrencies directly. There are still regulatory obstacles in spite of the increased interest. David Solomon, the CEO of Goldman Sachs, has previously said that banks are not allowed to own or trade cryptocurrencies.
“At the moment, as a regulated banking institution, we’re not allowed to own a cryptocurrency like Bitcoin as a principal,” Solomon said. He emphasized that while Goldman Sachs advises clients on digital assets, its ability to operate in the market remains limited due to regulatory constraints.
With major financial institutions increasing their exposure to Bitcoin ETFs, the landscape of institutional crypto investment continues to evolve.