Wells Fargo Investment in Bitcoin

Wells Fargo, one of the largest banks in the United States, has taken a significant step into the world of digital assets by investing in several Bitcoin-related products, according to a 13F-HR form submitted on Friday.

Wells Fargo investments were made across three different Bitcoin investment vehicles as of March 31.

The majority of these investments, worth $141,817 by March 31, were allocated to the Grayscale Bitcoin Trust (GBTC). In addition to GBTC, the banking giant also invested some small amounts in Bitcoin ATM provider Bitcoin Depot and ProShares Bitcoin Strategy ETF (BITO), a Bitcoin futures ETF.

While these investments represent only a fraction of Wells Fargo’s…

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