The leading cryptocurrency Bitcoin has been declining since April. BTC, which started May with a decline, continues to decline due to many factors.
While the effect of successive outflows in spot Bitcoin ETFs undoubtedly played a major role in this decline, BNP Paribas, the second largest bank in Europe, reported that it was exposed to the spot BTC ETF in its last 13F filing.
Accordingly, BNP Paribas stated that it has invested in BlackRock's iShares Bitcoin Trust (IBIT).
According to the notification made yesterday, BNP Paribas announced that it invested $41,684 in the BlackRock Bitcoin ETF by purchasing 1,030 units.
Although the investment in the Bitcoin ETF was not large, it was considered a big step in the bank's adoption of BTC.
Analysts also stated that this move of the bank coincides with the post of Bloomberg's senior ETF analyst Eric Balchunas. Because Eric Balchunas said that many investment advisors, banks and other institutional investors have invested in BTC ETFs, but they have not yet reported and disclosed these investments.
Balchunas also stated that he expects more than 500 investment advisors to disclose their Bitcoin ETF holdings by May 15, the deadline for 13F filings.
*This is not investment advice.
