Wells Fargo Lifts Bitcoin ETF Holdings to $160 Million – Crypto News – Crypto News
Connect with us
Wells Fargo Lifts Bitcoin ETF Holdings to $160 Million Wells Fargo Lifts Bitcoin ETF Holdings to $160 Million

De-fi

Wells Fargo Lifts Bitcoin ETF Holdings to $160 Million – Crypto News

Published

1 week ago

on

Wells Fargo & Co. sharply expanded its exposure to U.S.-listed Bitcoin exchange-traded funds in the second quarter

Wells Fargo & Co. sharply expanded its exposure to U.S.-listed Bitcoin exchange-traded funds in the second quarter, raising its holdings to about $160 million from roughly $26 million three months earlier, according to regulatory portfolio disclosures cited by market trackers.

The additional $130 million allocation was spread across BlackRock’s iShares Bitcoin Trust and several other spot Bitcoin ETFs launched earlier this year after U.S. regulators cleared the products. The move underscores growing interest among large U.S. banks in gaining indirect access to the cryptocurrency market through regulated fund structures.

Wells Fargo, which manages about $1.9 trillion in assets, joins peers such as JPMorgan Chase and Morgan Stanley that have also reported incremental positions in spot Bitcoin ETFs since their debut. While the bank has not publicly commented on its strategy, the filing indicates a measured but notably larger commitment to Bitcoin exposure within its diversified investment portfolios.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.

Related Topics:
Continue Reading

Trending