#PNC the 8th largest bank in the U.S. with managed assets totaling $325 billion, reported its investment in Bitcoin ETF. According to a 13F report filed with the U.S. Securities and Exchange Commission (SEC), the financial institution now holds Bitcoin assets worth $67 million in its portfolio. The majority of funds are invested in the Bitwise Bitcoin ETF (#BITB ).
Previously, analyst Julian Farer reported that PNC Bank significantly increased its investments in BTC funds. Over the year, the investment amount grew from $10 million to $67 million. This indicates the growing confidence of financial giants in cryptocurrency products. This trend is confirmed by the regularly increasing inflow amounts into leading U.S. exchange-traded funds.
In addition to PNC, other leading banks in the United States are also increasing their investment sizes in #bitcoin ETFs. It is reported that financial institutions such as Wells Fargo, Morgan Stanley, and BNP Paribas are actively investing funds in Bitcoin funds. Analysts attribute this to the global growth of institutional interest in crypto assets.
Through 13F reports, it was also revealed that BlackRock, the largest issuer of the iShares Bitcoin ETF (IBIT), increased its stake in the fund. In November 2024, the company held assets worth $92 million, and today that amount has grown to $140 million.
The total inflow into Bitcoin ETFs has already exceeded $40.5 billion since their launch about 13 months ago. This makes Bitcoin funds one of the fastest-growing investment instruments in the history of the financial market, even surpassing gold.
Funds are now striving to implement an in-kind redemption mechanism, allowing investors to receive $BTC directly instead of U.S. dollars. BlackRock has already submitted a corresponding request to the SEC, and Fidelity Investments is also considering such an option. This could become the next important step in the development of Bitcoin ETFs.
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