ETFs
US Bancorp and Rothschild Company Disclose Bitcoin ETF Spot Purchases of Approximately $20 Million in Q1
US Bancorp disclosed spot Bitcoin ETF investments worth over $15 million May 8.
The company revealed that it purchased approximately 87,744 shares of FBTC from Fidelity worth $5.4 million, 46,011 shares from Grayscale. GBTC worth $2.9 million, and 178,567 shares of BlackRock I BITE worth $7.2 million.
The company’s total investments stood at $71.8 billion, based on its latest 13F filing.
US Bancorp is among the largest bank holding companies in the United States, with more than $663 billion in assets under management at the end of 2023.
Investment of the Rothschild company
Edmond De Rothschild Holding SA separately disclosed spot Bitcoin ETF investments worth more than $4.2 million on May 9.
The company reported 103,600 shares of BlackRock I BITE, valued at just under $4.2 million. He also declared 1,300 shares of GBTCvalued at $82,121.
The company’s total investments stood at $6 billion, based on its latest 13F filing.
Continued institutional investments
Several other companies have disclosed investments in spot Bitcoin ETFs in recent weeks and months. Hightower and SouthState Bank Advisors, Susquehanna International Group, BNP Paribas, Burkett Financial ServicesAnd Legacy asset management bought ETFs.
Meanwhile, MassMutual announced a continued investment in Grayscale’s Bitcoin Trust (GBTC), amounting to 227 shares valued at $14,340 on May 9.
The latest disclosures cover the first quarter of 2024. The deadline for quarterly 13F filings is May 15, and more companies may disclose their investments in the coming days. BlackRock and Bitwise executives believe institutional investors will continue to purchase Bitcoin ETFs for 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.