GBTC - BNP Paribas Reverses Stance On Crypto Invests In BlackRock's Spot Bitcoin ETF | Benzinga
BNP Paribas, a multinational investment bank and one of the largest financial institutions in Europe, has made a landmark move by purchasing shares in BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT), according to an SEC filing.
What Happened: The 13F report filed with the U.S. Securities and Exchange Commission (SEC) reveals that BNP Paribas acquired 1,030 IBIT shares in the first quarter of 2024, at a price of $40.47 per share.
While the total investment amounts to $41,684.10, it represents a fraction of a single Bitcoin (CRYPTO: BTC) at current prices.
This investment by Europe’s second-largest bank by assets is particularly notable as it represents one of the first instances where a major financial institution has invested in a spot Bitcoin ETF.
This move is seen as an endorsement of the growing belief that Bitcoin ETFs would attract institutional ...