US Bancorp, a bank holding company with over $600 billion in assets under management, has made a significant investment in Bitcoin ETFs. According to the company’s latest filing with the Securities and Exchange Commission (SEC), it has invested $15 million, with half of that amount going to BlackRock’s IBIT.
Joining the Bitcoin bandwagon, the Rothschild family has also revealed their investment in IBIT shares. Through their Swiss-owned bank, they have purchased $4.2 million worth of shares.
The interest in Bitcoin among institutional investors continues to grow, with US Bancorp, JPMorgan, and Edmond de Rothschild (Suisse) S.A. bank being the latest to disclose their BTC spot ETF holdings.
The launch of spot ETFs in January has made it easier for institutions to invest in Bitcoin without concerns about regulations, cybersecurity, or fiscal risks. Since then, numerous global giants have announced their investments in the top cryptocurrency.
Two major American commercial lenders, US Bancorp and JPMorgan, have recently shown their support for Bitcoin. US Bancorp’s SEC filing reveals that it has invested over $15 million in Bitcoin ETFs. The bank’s largest investment is in IBIT, an ETF issued by BlackRock. It has also invested in Fidelity’s ETF and the Grayscale ETF called GBTC, which has experienced significant outflows since its launch.
US Bancorp, headquartered in Minnesota, operates the fifth-largest banking institution in the US. It currently manages over $660 billion in assets and has invested more than $70 billion.
JPMorgan, the largest bank in the US, has also entered the Bitcoin ETF market. Its recent SEC filing shows a modest investment of $1.2 million, distributed among various ETF providers such as Grayscale, BlackRock, Bitwise, Fidelity, and ProShares.
While JPMorgan’s investment may seem small, it reflects the growing acceptance of Bitcoin on Wall Street. This is particularly significant because JPMorgan’s CEO, Jamie Dimon, has been one of the harshest critics of BTC. Despite his negative views, the bank continues to explore both the asset and the underlying technology.
In addition to US banks, the Rothschild family, one of the world’s most influential families, has also invested in Bitcoin ETFs. The family’s Swiss banking corporation, Edmond de Rothschild (Suisse) S.A., disclosed an investment of over $4 million. The entire portfolio has been invested in BlackRock’s IBIT, with a small amount going to Grayscale.
The Swiss bank is part of a banking conglomerate that was founded in the 1700s and remains influential in Europe today.
Bloomberg’s ETF expert, Eric Balchunas, emphasized that beyond the individual investments made by these banks, the number of ETF holders is the most impressive. Compared to other ETFs launched around the same time, Bitcoin ETFs have gained significantly more traction.
In summary, US Bancorp, JPMorgan, and the Rothschild family’s Swiss bank have joined the growing list of institutions investing in Bitcoin ETFs. The interest in Bitcoin among institutional investors continues to rise, and the popularity of Bitcoin ETFs has surpassed expectations.