Bitcoin
US Bancorp and company Rothschild disclose Bitcoin ETF cash purchases of around US$20 million in the first quarter
US Bancorp disclosed spot Bitcoin ETF investments worth over $15 million in May 8.
The company revealed that it purchased about 87,744 shares of Fidelity’s FBTC worth $5.4 million, 46,011 shares of Grayscale GBTC worth US$2.9 million and 178,567 BlackRock shares I BITE worth US$7.2 million.
The company’s total investments were $71.8 billion, based on its latest 13F filing.
US Bancorp is among the largest bank holding companies in the US, with over $663 billion in AUM as of end-2023.
Rothschild firm investment
Edmond De Rothschild Holding SA separately disclosed Bitcoin ETF spot investments worth more than $4.2 million in May 9.
The company reported 103,600 shares of BlackRock I BITE, valued at just under $4.2 million. It also reported 1,300 actions of GBTCvalued at $82,121.
The company’s total investments were $6 billion, based on its latest 13F filing.
Continued institutional investment
Several other companies have disclosed investments in spot Bitcoin ETFs in recent weeks and months. Hightower Consultants and SouthState Bank, Susquehanna International Group, BNP Paribas, Burkett Financial ServicesIt is Legacy asset management bought ETFs.
Meanwhile, MassMutual reported continued investment in Grayscale’s Bitcoin Trust (GBTC), totaling 227 shares valued at $14,340 as of May 9.
The latest disclosures cover the first quarter of 2024. The deadline for quarterly 13F filings is May 15, and other companies may disclose investments in the coming days. BlackRock and Bit by bit executives believe that institutional investors will continue to buy Bitcoin ETFs in cash.
Spot Bitcoin ETFs had a combined AUM of $52.7 billion as of May 9, with nearly $11.8 billion in cumulative inflows as of May 8.