<\/p>\n
US banking giant Wells Fargo is now holding a spot Bitcoin ETF on behalf of its clients, according to a new filing with the SEC.<\/p>\n
The bank\u2019s Form F13 filing<\/a>, which requires institutional investment managers to disclose their holdings, says Wells Fargo is holding 2,245 shares of the Grayscale Bitcoin Trust (GBTC), which was converted to an ETF in January.<\/p>\n The total value of those shares is $121,207 at time of publishing \u2013 a sliver of the firm\u2019s approximately $2 trillion in assets under management.<\/p>\n But the revelation is significant given the resistance that banks have historically shown toward customers who want exposure to the digital asset industry.<\/p>\n This week, the US House of Representatives passed a bill<\/a> that would overturn SEC guidelines that disincentivize banks from holding crypto by requiring them to list the assets as liabilities on their balance sheets.<\/p>\n The bill passed<\/a> with 207 votes from Republicans and 21 votes from Democrats, passing\u00a0228 votes to 182.<\/p>\n Republican Representative Mike Flood, who drafted the resolution, said it\u2019s designed to \u201censure consumers are protected by removing roadblocks that prevent highly regulated banks from acting as custodians of digital assets.\u201d<\/p>\n The Biden Administration has vowed<\/a> to veto the law if it passes the Senate, saying it could \u201cinappropriately constrain the SEC\u2019s ability to ensure appropriate guardrails and address future issues related to crypto-assets including financial stability.\u201d<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>  <\/p>\n Featured Image: Shutterstock\/nuttapon averuttaman<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" US banking giant Wells Fargo is now holding a spot Bitcoin ETF on behalf of its clients, according to a new filing with the SEC. The bank\u2019s Form F13 filing, which requires institutional investment managers to disclose their holdings, says Wells Fargo is holding 2,245 shares of the Grayscale Bitcoin Trust (GBTC), which was converted […]<\/p>\n","protected":false},"author":2,"featured_media":299784,"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-299783","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\/299783","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=299783"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/299783\/revisions"}],"predecessor-version":[{"id":299786,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/299783\/revisions\/299786"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/299784"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=299783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=299783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=299783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n
\nCheck Price Action<\/a><\/span><\/em>
\n
\nFollow us on X<\/a>, Facebook<\/a> and Telegram<\/a><\/span><\/em>
\n
\nSurf The Daily Hodl Mix<\/a><\/span><\/em>
\n<\/p>\nDisclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n