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BNP Paribas, Europe’s second-largest bank, has made its first foray into Bitcoin through BlackRock’s iShares Bitcoin Trust ETF (IBIT). Recent SEC 13F filings reveal BNP Paribas’s investment in the U.S. spot Bitcoin ETF market, which has garnered over $200 billion in cumulative volume since its launch earlier this year. The bank, with over $600 billion in assets under management, joins other major players like Park Avenue Securities, Inscription Capital, and American National Bank in gaining exposure to Bitcoin ETFs. Although BNP Paribas’s $40,000 IBIT investment is modest, its entry marks a significant step for traditional European banking toward Bitcoin adoption.
Analysts predict that more institutional players will reveal their Bitcoin ETF investments in upcoming 13F filings before the May 15 deadline. This trend signifies growing acceptance of Bitcoin within traditional finance, as old-guard institutions increasingly recognize its potential as an investable asset class. Participation by major banks like BNP Paribas hints at broader mainstream acceptance and potential inflows into regulated Bitcoin investment vehicles.
