Financial Insights That Matter
Institutional interest in Bitcoin is happening and growing, but often behind closed doors. While retail investors closely follow Bitcoin’s price movements, some of the biggest players in finance are quietly making their moves. One such player is the Bank of Montreal (BMO), Canada’s third-largest bank.
Despite staying silent on its crypto strategy, BMO was recently forced to reveal a $150 million investment in Bitcoin ETFs through a regulatory filing with the U.S. Securities and Exchange Commission (SEC).
This unexpected disclosure has reignited discussions about how deeply traditional banks are getting involved in Bitcoin.
What’s next?
Inside BMO’s Bitcoin ETF Holdings
In the U.S., any investment firm managing over $100 million must file a Form 13F-HR with the SEC, making BMO’s Bitcoin involvement public.
The filing confirms that the bank has made a significant investment in the spot Bitcoin ETF market, with the largest portion allocated to BlackRock’s iShares Bitcoin ETF (IBIT), one of the top players in the industry.
BlackRock Leads the Way
According to the filing, BMO has invested around $139 million in IBIT, showing a strong preference for BlackRock’s Bitcoin ETF.
However, the bank has also spread its investment across multiple Bitcoin ETFs. The document reveals that around $11 million has been allocated to Ark 21Shares Bitcoin ETF, Grayscale Bitcoin Trust, and Fidelity Wise Origin Bitcoin Fund.
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Exploring Bitcoin Futures
BMO’s Bitcoin investment is not limited to spot ETFs. The filing also reveals a small allocation to Bitcoin futures ETFs, which track Bitcoin futures contracts instead of its current market price.
The document shows that BMO has invested $17,000 in ProShares Bitcoin ETF (BITO), which is the largest Bitcoin futures ETF by assets under management. While this amount is minor compared to its spot ETF holdings, it indicates that the bank is exploring multiple ways to gain Bitcoin exposure.
Bitcoin ETFs are driving massive crypto adoption! Read Bitcoin Price Prediction to see how institutional investments are shaping BTC’s future.
Spot Bitcoin ETF Market: An Overview
Currently, the top five spot Bitcoin ETFs by assets under management are:
- BlackRock’s IBIT – $57.03 billion
- Fidelity’s FBTC – $20.57 billion
- Grayscale’s GBTC – $19.44 billion
- Ark 21Shares’ ARKB – $4.94 billion
- Grayscale’s BTC – $4.07 billion
Meanwhile, ProShares’ BITO, with an AUM of $2.76 billion, remains the leading Bitcoin futures ETF.
BMO’s investment is part of a larger trend of institutional interest in Bitcoin. While some banks remain hesitant, the growing capital flowing into Bitcoin ETFs suggests that mainstream adoption is accelerating.
With institutional investments increasing, Bitcoin’s price and market dynamics could see significant shifts.
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