United

Bitcoin

Grayscale Bitcoin Trust

Wells Fargo, a major financial institution in the United States, announced its entry into the Bitcoin market with investments Grayscale and ProShares’ Bitcoin Exchange ETF. 
Wells Fargo reported holding shares in two ETFs, the ProShares Bitcoin Strategy ETF, which tracks Bitcoin futures contracts, and the Grayscale Bitcoin Trust, which was recently converted into a spot Bitcoin ETF. The bank also owns shares in Bitcoin Depot, a company that operates cryptocurrency ATMs. 
While the total value of these Bitcoin-related holdings sits at a modest $143,111, a further breakdown reveals it holds 37 shares of the ProShares Bitcoin Strategy ETF and&nbsp; 2,245 shares of Grayscale Bitcoin Trust along with 52 shares in Bitcoin Depot per the <a href="https://www.sec.gov/Archives/edgar/data/72971/000007297124000139/xslForm13F_X02/13F_3_2024.xml" target="_blank" rel="noreferrer noopener">SEC filling</a>. 
With roughly $1.7 trillion in assets, Wells Fargo’s investment, though small, represents a new chapter for the bank’s involvement in the cryptocurrency space. 
It’s important to note, however, that the SEC filing includes a disclaimer stating that the information provided by Wells Fargo should not be considered inherently “accurate and complete.” 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/08/susquehanna-invests-1-3-billion-in-spot-bitcoin-etfs/" target="_blank" rel="noreferrer noopener">Susquehanna Invests $1.3 Billion in Spot Bitcoin ETFs</a> 
</blockquote>

Wells Fargo Dips Toes into Bitcoin with ETF Investments

The Crypto Times

Други статии, публикувани на 11.05.2024 г.

Dogecoin (DOGE) Price Looks for ‘Golden Cross’: Big Rally Coming?

Bitcoin Price Could Plunge to $52K, Analyst Predicts

AVAX Price Decline Continues

Long-Term Holders Not Selling Bitcoin Following Peak At $73K

Exploring the Future Potential of Bitgert Coin: A Comprehensive Analysis

Ethereum Co-Founder Joseph Lubin Criticizes SEC for Stifling Innovation, Threatening U.S. Financi...

Присъединете се към нашия безплатен бюлетин за ежедневни крипто актуализации!