Europe's Second-Largest Bank Buys BlackRock Bitcoin ETF Shares

Europe’s second-largest bank, BNP Paribas, has purchased BlackRock Spot Bitcoin ETF shares. Indeed, a 13F filing with the US Securities and Exchange Commission (SEC) shows the purchase of shares in the asset management firm’s iShares Bitcoin Trust (IBIT) in Q1 2024.

The filing was made on May 1st, 2024, and detailed BNP Paribas purchase of 1,030 IBIT shares. Moreover, that acquisition cost the multinational bank more than $40 per share, for a total cost of $42,684. However, that price is currency far below the price of a single Bitcoin, which is currently trading at more than $58,000.

Also Read: BlackRock Expects Spot Bitcoin ETF Trading By Sovereign Wealth

Europe’s BNP Paribas Buys BlackRock Spot Bitcoin ETF Shares

At the start of the year, the digital asset sector saw a landmark development with the approval of Spot Bitcoin ETFs in the United States. The inaugural approval saw a plethora of options enter the market. Yet, the most successful has proven to be BlackRock’s IBIT.

The $9 trillion asset management firm has led the way as far as the BTC investment offerings. Now, Europe’s second-largest bank is getting in on that success, as BNP Paribas has purchased BlackRock Spot Bitcoin ETF shares.

MONTREAL, CANADA – OCTOBER 4, 2018: BNP Paribas building and logo in Montreal

Also Read: Bitcoin: BlackRock BTC ETF Inflows Fall to Zero For The First Time

The acquisition was revealed in a new filing with the SEC that shows the transaction took place at the start of the month. Although the share price was less than one Bitcoin, it is still a notable development for the sector as a whole.

BNP Paribas is now the first verified instance of a financial institution of its scale purchasing such shares. Moreover, it continues to prove correct the prediction regarding the investment offerings impact. Specifically, in that it will drive further institutional interest in BTC through these Spot Bitcoin ETFs.

  • Bitcoin ETF
  • Blackrock

Comments

Post a Comment

Popular posts from this blog

Has a 1% tax on Bitcoin holders been proposed by a U.S. Senator?

In the morning of Monday, April 22, Dennis Porter, the CEO, and co-founder of the Satoshi Action Fund, caused a stir on X as he shared a supposed letter sent by Senator Elizabeth Warren to President Biden. The letter detailed a proposed piece of legislation titled the ‘ Cryptocurrency Reporting and Wealth Tax Act ’ and urged its implementation. In the document, Senator Warren highlighted that digital assets present both opportunities and challenges but focused on the problems of taxing digital assets and enforcing existent rules in the crypto market. Picks for you 3 must-buy cryptocurrencies under $1 for this week 46 mins ago Losing faith in fiat? Central banks' gold accumulation hits historic level 1 hour ago Cronos unveils its Spring Odyssey campaign powered by Galxe 3 hours ago Google Gemini predicts Gold price for the end of 2024 3 hours ago As a result, the proposed act would introduce requirements for any individual or entity holdin
Read more

Ethereum’s Rocky Road To $4,000: Will SEC Hurdles Derail Its Bullish Journey?

Image
Ethereum (ETH) stands at a crucial juncture, with its eyes set on the $4,000 price mark. Amid this ambitious pursuit, the digital asset faces a significant challenge that could influence its trajectory: scrutiny from the US Securities and Exchange Commission (SEC). Despite this potential regulatory hurdle, some analysts remain optimistic about Ethereum’s prospects. A detailed Analysis by Captain Faibik, a market watcher, highlighted a bullish pattern in ETH’s four-hour candlestick chart, suggesting that the $4,000 threshold is within reach. Related Reading: Market Alert: Ethereum Faces Potential Downfall As Dencun Upgrade Looms – Here’s Why Ethereum Eyes $4,000 Milestone This optimism stems from a descending wedge pattern observed by Faibik, indicating an end to Ethereum’s consolidation phase and signaling a possible price breakout. The technical Analysis paints a promising picture for Ethereum, suggesting that the asset could reclaim its lost valuati
Read more

Binance CEO CZ Responds to Allegations of Dumping BTC/BNB

Image
CZ Response On Selling BTC In response to a tweet by Skew, CZ vehemently denied the claims of selling BTC. Through his official Twitter account, CZ (@ CZ _ Binance ) stated, advertisement “Binance has not sold BTC or BNB. We even still have a bag of FTT.” He further expressed astonishment at the notion that one can determine specific sellers based solely on a price chart involving millions of traders, dismissing it as FUD (Fear, Uncertainty, and Doubt). Skew claimed that BTC was being sold off for USDT reserves, which were then aggressively used to pump into BNB since May 27th. Additionally, BNB was allegedly sold off for BUSD to suppress volatility in BTC, and BUSD was further pumped into BTC to suppress downside volatility, allowing for BTC to be swapped out for USDT. Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List
Read more