US Bancorp and Rothschild Embrace Bitcoin: ETF Investments Indicate Institutional Interest in Crypto Exposure

US Bancorp, a prominent financial institution managing a substantial $600 billion in assets, has recently allocated $15 million towards Bitcoin exchange-traded funds (ETFs). This significant investment includes $7 million in BlackRock’s IBIT, the largest asset management company globally. Additionally, US Bancorp has invested $5.4 million in Fidelity’s ETF and $3 million in GBTC, the Grayscale ETF. It is worth noting that GBTC has experienced significant outflows since its launch earlier this year. Alongside US Bancorp, JPMorgan and Edmond de Rothschild (Suisse) S.A. have also revealed their Bitcoin spot ETF holdings. These institutions are embracing Bitcoin, with spot ETFs allowing them to invest in the cryptocurrency without concerns about regulatory, cybersecurity, or fiscal risks. The Rothschild family, known for its influence and history in the banking industry, has invested $4.2 million in IBIT shares through their Swiss-owned bank. JPMorgan, the largest bank in the US, has invested $1.2 million in various Bitcoin ETFs, including Grayscale, BlackRock, Bitwise, Fidelity, and ProShares. Although the investment by JPMorgan may seem modest, it signifies Wall Street’s growing acceptance of Bitcoin, especially considering CEO Jamie Dimon’s previous criticism of the cryptocurrency. The latest filings also reveal that the Rothschilds have invested $3.6 million in Bitcoin ETFs, primarily focused on BlackRock’s IBIT. This investment further demonstrates the increasing interest and involvement of major financial players in the cryptocurrency market. Notably, Bloomberg’s ETF expert, Eric Balchunas, highlights the significant number of ETF holders accumulated by Bitcoin ETFs compared to other ETFs launched around the same time in January. Overall, these developments contribute to the ongoing growth and adoption of Bitcoin in the financial sector.