Just-In: Bank of Montreal Reveals Spot Bitcoin ETF Holdings
Highlights
- Bank of Montreal reveals its spot Bitcoin ETF holdings.
- This follows moves from several traditional financial institutions.
- Crypto analysts and users continue to project a bullish momentum.
Bank of Montreal has disclosed its exposure to spot Bitcoin ETFs in a recent Securities and Exchange Commission (SEC) filing. In a recent filing, the bank disclosed its spot ETF holdings with multiple issuers. This comes on the heels of Bitcoin ETF acquisitions by traditional finance firms.
The Bank of Montreal which is Canada’s fourth largest bank has an ETF position in about four issuers including Fidelity (FBTC), Franklin Templeton (EZBC), BlackRock (IBIT), and Grayscale (GBTC). This move is significant for the crypto community because the bank controls over $1 trillion in assets.
Bank of Montreal Joins The Bandwagon
The SEC’s approval of Bitcoin ETFs on Jan 11 has led to traditional institutions increase their exposure to the asset as predicted. This is due to an ETF being a new window of investment in the underlying asset. Last week, Wells Fargo, the United States third largest bank revealed its exposure to spot Bitcoin ETFs in an SEC filing.
Similarly, JP Morgan Chase revealed its ETF holdings as accumulation seemed to increase among traditional institutions. These revelations led to bullish momentum across community lines on social media spaces with many users projecting more inflows to the asset.
At press time, the price of Bitcoin stands at $63,147, a 3% growth in the last 24 hours with an increase in daily trading volumes. Although still low compared to its all-time high, analysts at Standard Chartered tipped a price above $150,000 this year.
Spot Bitcoin ETF Changed The Narrative
Last year, the crypto market sought to rebound from low prices in 2022. The new upward trans trajectory was triggered by BlackRock’s ETF application which spurred other firms in the same line.
In December, heightened institutional flows saw the price of the asset above $44,000, a figure which soared past $72,000 after the approval in January. Spot Bitcoin ETF inflows surged in Q1 2024 dominating market spaces with billions entering the scene.
Read Also: LUNC News: Terra Classic Community Makes Crucial Move With Allnodes
- FOMC Minutes Signal Fed Open to More Rate Cuts This Year, Bitcoin Bounces
- North Dakota To Issue ‘Roughrider’ Stablecoin Following Wyoming’s Footsteps
- Ethena Labs and Jupiter Partner to Launch JupUSD Stablecoin on Solana
- BlackRock’s Bitcoin ETF Leads ETFs With $3.5B Weekly Inflows as It Eyes $100B in AUM
- MetaMask Launches Hyperliquid Perpetuals In-App, Plans To Integrate Polymarket
- Bitcoin Price Prediction as US Govt. Shutdown Extends- What’s Next for BTC?
- Solana Price Megaphone Points to a Parabolic Move as SOL Treasuries Near $3B
- XRP Price Prediction Amid ETF Approval Roadblock as Analyst Warns of $2.72 Dip
- Binance Coin Price Prediction If It Surpasses Bitcoin Marketcap— Is $3000 Possible in 2025?
- ASTER vs HYPE Price Analysis – Which Perp DEX Token Looks Poised to Dominate Q4 Performance?
- Ethereum Price Could Soar to $6,500 as BlackRock’s ETF Nears $20B Milestone
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
