Key Points:
- PNC Bitcoin Exposure reaches $67M, with major investments in Bitwise ETF, reflecting increased institutional involvement in crypto assets.
- PNC’s 13F filing reveals its Bitcoin ETF holdings, aligning with a broader trend of U.S. banks and institutions adopting BTC-based investment products.
PNC Bitcoin Exposure hits $67M, mainly in Bitwise ETF, per its 13F filing. The 8th largest U.S. bank signals growing institutional interest in BTC ETFs.
PNC Bitcoin Exposure Grows as Institutional Interest Rises
PNC has more than doubled its exposure to Bitcoin ETFs, with $67M in assets, according to its latest filing with the SEC. This makes it one of the major U.S. financial institutions embracing digital asset investments.
Most of the bank’s investments are in the Bitwise Bitcoin ETF, which is indicative of a wider trend in the industry. Other financial behemoths, such as Wells Fargo and Morgan Stanley, also continue to grow their Bitcoin ETFs, cementing BTC’s place in traditional markets, according to Coingape.
Read more: Bitwise Bitcoin and Ethereum ETF Now Approved by SEC to Change Trading Rules
How PNC Bitcoin Exposure Signals a Shift in Banking Trends
The revelation of the PNC exposure is a significant turn of events for traditional banking strategies. With an AUM of $325B, the move by PNC into BTC-backed assets underlines the growing confidence of institutions in the crypto market.
Other than PNC, several leading banks are investing in Bitcoin ETFs. BlackRock and Fidelity have upped their stakes, and now the institutions are asking for in-kind redemptions further shaper of the ETF landscape.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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