Blogs & Articles: 13F SEC Filings Reveal Second Largest European Bank Purchases Bitcoin ETF 🔗 18 weeks ago

Recent 13F filings with the SEC indicate that BNP Paribas, Europe's second largest bank, has gained Bitcoin exposure by purchasing BlackRock's iShares Bitcoin Trust ETF (IBIT).

Since their launch earlier this year, U.S. spot Bitcoin ETFs have surpassed $200 billion in total trading volume.

Regulatory requirements mandate that large institutional investors with asset management of over $100 million disclose their quarterly holdings through 13F filings.

Following the eagerly awaited introduction of these ETFs, Bitcoin investors have closely monitored these disclosures to identify which institutions are investing in Bitcoin ETFs.

Disclosures for Q1 2024 revealed investments by asset managers, family offices, and banks including Park Avenue Securities, Inscription Capital, Wedbush Private Capital, and American National Bank.

BNP Paribas, Europe’s second-largest bank with assets exceeding $600 billion, has now made its entry. 

Although BNP's investment in IBIT is about $40,000—a modest sum—the move is notable because it marks the beginning of Bitcoin exposure for one of Europe's major banks through an ETF.

Analysts anticipate that additional 13F filings prior to the May 15th deadline may reveal even greater institutional engagement with spot Bitcoin ETFs. The filings to date reflect a burgeoning acceptance of Bitcoin within the sphere of traditional finance.