US spot bitcoin ETFs purchased 1,318 bitcoins over the week, but there was an outflow from GBTC.

BlackRock has become a major player in the Bitcoin market. His Bitcoin trust, iShares, has accumulated more than 274,000 Bitcoins, worth approximately $16 billion as of May 2024.

The trust's popularity has drawn interest from a variety of institutions, including BNP Paribas, Europe's second-largest bank, which reported a $41,684 investment in BlackRock's Bitcoin ETF.

JPMorgan Chase, another US banking giant, confirmed it holds about $760,000 worth of Bitcoin ETFs across several funds, including Grayscale, ProShares, Bitwise, BlackRock and Fidelity.

Wells Fargo, a major US bank, also disclosed Bitcoin ETF holdings in a recent regulatory filing.#ETFvsBTC