There is a great development. If this development comes to life, it will be very good. There will be no obstacle for the Bitcoin and cryptocurrency market to break records. Here are the details;
It ended with major US banks making significant investments in spot Bitcoin exchange-traded funds (ETFs). Several 13F filings with the US Securities and Exchange Commission revealed that these financial institutions purchased significant shares of various spot Bitcoin ETFs for their clients. In the coming months, these banks may further increase their ETF assets and include them in their balance sheets.
Goldman Sachs, the world's second largest investment bank in terms of revenue, reported that its spot Bitcoin ETF assets were $418 million. The bank announced that it owns shares in multiple funds, including BlackRock's iShares Bitcoin Trust (IBIT), Fidelity's Wise Origin Bitcoin Fund (FBTC), and Grayscale's Bitcoin Trust (GBTC). Goldman Sachs also invested in funds issued by Ark Invest/21Shares, Invesco/Galaxy, Bitwise and WisdomTree. Its largest assets are in IBIT with $238 million, followed by FBTC with $79.5 million.
Morgan Stanley also reported its spot Bitcoin ETF holdings. Although the firm had a $269 million investment in GBTC in the first quarter, its assets fell to about $189.7 million by the end of June. While GBTC shares fell to $148,000, Ark Invest’s ARKB shares totaled $1.6 million.
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