US Bancorp, Rothschild firm disclose spot Bitcoin ETF purchases of roughly $20 million in Q1

US Bancorp disclosed spot Bitcoin ETF investments worth over $15 million on May 8.

The company revealed it purchased roughly 87,744 shares of Fidelity’s FBTC worth $5.4 million, 46,011 shares of Grayscale’s GBTC worth $2.9 million, and 178,567 shares of BlackRock’s IBIT worth $7.2 million.

The company’s total investments stood at $71.8 billion, based on its latest 13F filing.

US Bancorp is among the largest bank holding companies in the US, with over $663 billion in AUM at the end of 2023.

Rothschild firm investment

Edmond De Rothschild Holding SA separately disclosed spot Bitcoin ETF investments worth more than $4.2 million on May 9.

The company reported 103,600 shares of BlackRock’s IBIT, valued at slightly less than $4.2 million. It also reported 1,300 shares of GBTC, valued at $82,121.

The firm’s total investments stood at $6 billion, based on its latest 13F filing.

Continued institutional investment

Several other companies have disclosed investments in spot Bitcoin ETFs in recent weeks and months. Hightower Advisors and SouthState Bank, Susquehanna International Group, BNP Paribas, Burkett Financial Services, and Legacy Wealth Asset Management have purchased ETFs.

Meanwhile, MassMutual reported continued investment in Grayscale’s Bitcoin Trust (GBTC), amounting to 227 shares valued at $14,340 on May 9.

The latest disclosures cover the first quarter of 2024. The deadline for quarterly 13F filings is May 15, and other firms may disclose investments in the coming days. BlackRock and Bitwise executives believe institutional investors will continue purchasing spot Bitcoin ETFs.

Spot Bitcoin ETFs had a combined AUM of $52.7 billion on May 9, with nearly $11.8 billion in cumulative inflows as of May 8.

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