BNP Paribas, the second largest bank in Europe with an asset management scale exceeding $600 billion, has disclosed in its 13F filing submitted to the SEC that it has invested in a Bitcoin spot ETF through BlackRock’s IBIT. This news was reported by Bitcoin Magazine on May 2nd.
It is worth noting that large investment institutions with assets under management exceeding $100 million are required to disclose their quarterly holdings through a 13F filing by May 15th. Therefore, in addition to BNP Paribas, more banks are expected to disclose their holdings in the next two weeks, and it is possible that more institutions have purchased Bitcoin.
Analysts also pointed out that although BNP Paribas’ disclosed investment amount is only $40,000, accounting for only 0.07% of its total asset scale, the participation of banking institutions indicates that Bitcoin spot ETFs are increasingly recognized and valued by the market. This is undoubtedly a great positive for Bitcoin and cryptocurrencies.
According to data from Sosovalue, since the approval of Bitcoin spot ETFs on January 11th, the net inflow of funds into such products has reached a total of $11.2 billion, with a net asset value of approximately $47.1 billion as of May 1st.
In addition, Hong Kong officially listed Bitcoin and Ethereum spot ETF products from Bosera, Huaxia, and CSOP on April 30th, making it the first case in Asia.
In the future, if more influential traditional financial institutions like BNP Paribas enter the market, it is expected to bring more capital liquidity to Bitcoin.
For further reading:
1. Hong Kong’s first batch of Bitcoin and Ethereum spot ETFs: What are the differences in issuance price and management fees? How big is the expected scale?
2. Ethereum is not a security in Hong Kong! OSL Exchange: It will not be affected by US regulatory decisions. The Securities and Futures Commission has a clear definition.
3. Bullish signal: BTC inventory on exchanges reaches a 6-year low! Bloomberg: Australia is expected to launch Bitcoin spot ETF by the end of the year.
4. Bitcoin spot ETFs are bleeding! Over 1,300 Bitcoins will be transferred at Monday’s opening; analysts warn of the formation of a “downward trend” for BTC.