US Bancorp disclosed spot Bitcoin ETF investments worth over $15 million on May 8.The company revealed it purchased roughly 87,744 shares of Fidelity’s FBTC worth $5.4 million, 46,011 shares of Grayscale’s GBTC worth $2.9 million, and 178,567 shares of BlackRock’s IBIT 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 US, with over $663 billion in AUM at the end of 2023.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’s IBIT, valued at slightly less than $4.2 million. It also reported 1,300 shares of GBTC, valued at $82,121.The firm’s total investments stood at $6 billion, based on its latest 13F filing.Several other companies have disclosed investments in spot Bitcoin ETFs in recent weeks and months. Hightower Advisors and SouthState Bank, Susquehanna International Group, BNP Paribas, Burkett Financial Services, and Legacy Wealth Asset Management have purchased ETFs.Meanwhile, MassMutual reported 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 other firms may disclose investments in the coming days. BlackRock and Bitwise executives believe institutional investors will continue purchasing spot Bitcoin ETFs.Spot Bitcoin ETFs had a combined AUM of $52.7 billion on May 9, with nearly $11.8 billion in cumulative inflows as of May 8.Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada’s West Coast.AJ, a passionate journalist since Yemen’s 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting. Daily digest of top crypto stories and market insights. Never miss out.The current uncertainty in the market is being fueled by the impending Federal Open Market Committee’s (FOMC) decision on cutting interest rates.Embracing Bitcoin mining could be pivotal in Trump’s envisioned energy strategy.Miller argued that the flagship crypto remains vastly undervalued and predicts a major shift in global capital governance.The report highlights significant gaps in law enforcement’s ability to track and recover illicit digital assets moved via privacy coins, layer-2 networks, and crypto mixers. CryptoSlate’s latest market report dives deep into the effects corporate Bitcoin purchases have on the market.Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
