Institutions Continue to Acquire Bitcoin ETFs: Rothschild and U.S. Bancorp Invest $20 Million

May 13, 2024 · Crypto News · Source:NewCoinSpot

Recent disclosures reveal significant institutional investments in Bitcoin ETFs, emphasizing the growing confidence major financial entities are placing in cryptocurrency as a viable asset class. Both Rothschild Investment Corporation and U.S. Bancorp have made notable purchases in Bitcoin-related ETFs, showcasing the expanding interest from traditional financial institutions in the crypto market.

U.S. Bancorp’s Strategic Bitcoin ETF Investments

On May 8th, U.S. Bancorp, one of America’s largest banking holding companies, reported investments totaling over $15 million in various Bitcoin ETFs. The breakdown of their investment includes approximately:

  • 87,744 shares of Fidelity’s FBTC valued at $5.4 million.
  • 46,011 shares of Grayscale’s GBTC valued at $2.9 million.
  • 178,567 shares of BlackRock’s IBIT valued at $7.2 million.

With an overall investment portfolio amounting to $71.8 billion, as per their latest 13F filing, U.S. Bancorp’s strategic entry into the Bitcoin ETF market is a significant indicator of its bullish outlook on cryptocurrencies. As of the end of 2023, the company managed assets surpassing $663 billion.

Rothschild Investment Corporation’s Bitcoin ETF Moves

On the following day, May 9th, Rothschild Investment Corporation independently disclosed over $4.2 million worth of investments in spot Bitcoin ETFs. This included:

  • 103,600 shares of BlackRock’s IBIT, slightly under $4.2 million in value.
  • 1,300 shares of Grayscale’s GBTC, worth approximately $82,121.

These investments are part of a broader strategy by Rothschild, which has an overall portfolio of $6 billion, as indicated by their latest 13F filing.

Institutional Interest in Bitcoin ETFs

The trend of increasing institutional investment in Bitcoin ETFs is not limited to these entities. In recent weeks and months, several other firms have also reported investments in spot Bitcoin ETFs. Notable mentions include Hightower Advisors, SouthState Bank, Susquehanna International Group, BNP Paribas, Burkett Financial Services, and Legacy Wealth Asset Management.

These investments reflect a significant shift in the approach of traditional financial institutions towards cryptocurrencies. By opting for ETFs, these institutions can engage with Bitcoin in a regulated and perhaps more familiar format, mitigating some of the risks associated with direct cryptocurrency investments.

As the landscape of financial investments continues to evolve, the move by prominent firms like Rothschild and U.S. Bancorp further validates the cryptocurrency market, hinting at an increasing institutional adoption that could potentially shape the future dynamics of Bitcoin’s valuation and overall market integration.