{"id":294148,"date":"2024-05-02T14:16:30","date_gmt":"2024-05-02T08:46:30","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=294148"},"modified":"2024-05-02T14:16:30","modified_gmt":"2024-05-02T08:46:30","slug":"european-bank-with-600b-aum-invests-in-blackrocks-ibit-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/european-bank-with-600b-aum-invests-in-blackrocks-ibit-crypto-news\/","title":{"rendered":"European Bank With $600B AUM Invests In BlackRock’s IBIT – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

The U.S. Spot Bitcoin ETFs have been reporting massive outflows lately. However, institutional investors are moving forward to embrace these funds. The most recent one is BNP Paribas, which is the second largest bank in Europe. BNP Paribas has invested in BlackRock\u2019s iShares Bitcoin Trust (IBIT).<\/p>\n

BNP Paribas Gets Exposure To Bitcoin Via BlackRock\u2019s IBIT<\/h2>\n

According to the latest 13F filing<\/a>, filed on Wednesday, May 1, BNP Paribas revealed investing $41,684 in the BlackRock Bitcoin ETF by purchasing 1,030 units. Though the investment is not large, it serves as a stepping stone for the bank in its pursuit of embracing Bitcoin. Moreover, the European bank boasts a massive $600 billion in the assets under management (AUM), making the development even more significant.<\/p>\n

<\/p>\n

Furthermore, this move aligns with Bloomberg Senior ETF analyst Eric Balchunas<\/a>\u2019 prediction. Earlier this week, Balchunas took to X and countered Jim Bianco\u2019s claims of low institutional adoption of Bitcoin ETFs. The analyst noted that several investment advisors and other institutional investors are yet to submit their 13F filings for the first quarter of 2024.<\/p>\n

Moreover, Balchunas stated that he expects a whopping 500+ investment advisors to disclose their holdings by May 15, which is the deadline for 13F filings. Hence, the latest disclosure by BNP Paribas reaffirms that institutional adoption of Bitcoin ETFs<\/a> is going to soar.<\/p>\n

In addition, it\u2019s worth noting that City Holding Co., a Royal Bank of Canada subsidiary with $6 billion AUM, invested in the Grayscale Bitcoin Trust (GBTC) in April. According to a 13F filing, dated April 11, 2024, the subsidiary obtained 100 units of the Grayscale Bitcoin ETF.<\/p>\n

<\/p>\n

<\/p>\n

Also Read:\u00a0US Fed Meeting Highlights: Markets Await Crucial Interest Rates Decision<\/a><\/strong><\/p>\n

Spot Bitcoin ETFs Record A Massive $563 Million Outflow<\/h2>\n

Following the recent FOMC meeting chaired by Jerome Powell, where interest rates remained unchanged, U.S. Spot Bitcoin ETFs experienced a significant surge in outflows exceeding $560 million on May 1. Moreover, the announcement contributed to a further 5% drop in the Bitcoin price<\/a>, which dropped below $57,500.<\/p>\n

According to data provided by Farside investors, Wednesday saw a notable net outflow of $563.7 million from Spot Bitcoin ETFs. Remarkably, BlackRock\u2019s IBIT ETF witnessed its first outflow since its inception, totaling $37 million.<\/p>\n

<\/p>\n

In addition, Fidelity\u2019s FBTC led the outflow charge with a staggering $191 million, surpassing Grayscale\u2019s GBTC, which recorded $167 million in outflows. For the first time, all Spot Bitcoin ETFs in the United States reported net outflows on the same day, highlighting the intensified selling pressure within the market.<\/p>\n

Also Read:\u00a0U.S. Bitcoin ETF Outflows Jump Past $560 Million, More Pain Ahead?<\/a><\/strong><\/p>\n

<\/p>\n

\n
\n

\u2713 Share:<\/p>\n

<\/a><\/p>\n

\n <\/p>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n
\n
\n

<\/p>\n

\"\"<\/div>\n
Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n

\n
\n

<\/p>\n

\"\"<\/div>\n
Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p>\n

\n
\n
\n
\n
\n<!–<\/p>\n
<\/div>\n

–><\/p>\n

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article. <\/p>\n<\/p><\/div>\n

\n \"\"\"\" <\/div>\n<\/p><\/div>\n<\/p><\/div>\n
\n

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n Crypto Stories<\/span><\/p>\n

View all<\/a>\n <\/div>\n

\n
\n
\n
\n <\/p>\n
\"5<\/div>\n
5 Important Highlights from the Recent Fed Meeting <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"ChatGPT's<\/div>\n
ChatGPT\u2019s Next Big Upgrade: What You Need to Know <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"5<\/div>\n
5 Reasons behind Mega Bank\u2019s 2024 Ethereum Price Prediction <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

The U.S. Spot Bitcoin ETFs have been reporting massive outflows lately. However, institutional investors are moving forward to embrace these funds. The most recent one is BNP Paribas, which is the second largest bank in Europe. BNP Paribas has invested in BlackRock\u2019s iShares Bitcoin Trust (IBIT). BNP Paribas Gets Exposure To Bitcoin Via BlackRock\u2019s IBIT […]<\/p>\n","protected":false},"author":2,"featured_media":275824,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-294148","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/294148","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=294148"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/294148\/revisions"}],"predecessor-version":[{"id":294151,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/294148\/revisions\/294151"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/275824"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=294148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=294148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=294148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}