US Bancorp disclosed on May 8th that it has made a cryptocurrency investment worth over $15 million in a BTC exchange-traded fund (ETF). The company revealed that it purchased approximately 87,744 shares of Fidelity’s FBTC, valued at $5.4 million; 46,011 shares of Grayscale’s GBTC, valued at $2.9 million; and 178,567 shares of BlackRock’s IBIT, valued at $7.2 million. According to its latest 13F filing, US Bancorp’s total investments amount to $71.8 billion.
US Bancorp is one of the largest bank holding companies in the United States, with assets under management exceeding $663 billion as of the end of 2023.
On May 9th, Edmond De Rothschild Holding SA independently disclosed a cryptocurrency investment in a BTC ETF worth over $4.2 million. The company purchased 103,600 shares of BlackRock’s IBIT, valued at approximately $4.2 million, as well as 1,300 shares of Grayscale’s GBTC, valued at $82,121. According to its latest 13F filing, the company’s total investments amount to $6 billion.
In recent weeks, several other companies have disclosed investments in BTC ETFs. Hightower Advisors, SouthState Bank, Susquehanna International Group, BNP Paribas, Burkett Financial Services, and Legacy Wealth Asset Management have all purchased ETFs.
Meanwhile, MassMutual has reported that it will continue to invest in Grayscale’s BTC Trust Fund (GBTC) and invested 227 shares worth $14,340 on May 9th.
The latest disclosed data covers the first quarter of 2024. The deadline for filing the quarterly 13F reports is May 15th, and other companies may disclose their investments in the coming days.
Executives from BlackRock and Bitwise believe that institutional investors will continue to purchase BTC ETFs.
As of May 9th, the total assets under management for BTC ETFs amounted to $52.7 billion, with a total inflow of nearly $11.8 billion as of May 8th.