BNP Paribas is the second largest bank in Europe. It has bought BlackRock Spot Bitcoin ETF share. It is true that a 13F filing With the US Securities and Exchange Commission, the SEC shows the acquisition of shares by asset management firms in its iShares Bitcoin Trust IBIT in Q1 2024.
BNP Paribas purchased 1,030 IBIT stock shares on May 1, 2024. This acquisition was also more expensive than $40 per IBIT share for a cost of over $42,684. Nevertheless, this price is very low compared to the value of one Bitcoin. at more than $58,000.
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BNP Paribas, Europe’s BNP Purchases Shares of BlackRock Bitcoin ETF
In the United States, at the beginning the year saw the first major development in the digital assets sector with the approval Spot Bitcoins ETFs. After the initial approval, a multitude of new options entered the market. BlackRock IBIT has been the most popular.
Asset management company BlackRock, with a $9 trillion market cap, has been the leader in BTC investments. BNP Paribas is now a part of that success. It has bought BlackRock Spot Bitcoin ETF Shares.
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A new SEC filing revealed the acquisition, which took place in the beginning of the month. Even though the price of the shares was lower than 1 Bitcoin, this is still a significant development for the entire sector.
BNP Paribas, the largest bank in France by market capitalization is now verified to be the first case of A financial Institutions of this size are buying such shares. It also continues to validate the impact of investment offering predictions. It will also drive institutional interest through the Spot Bitcoin Exchange Traded Funds.
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Source: watcher.guru