US Bank, with assets under management of $472 billion, reported holding $24 million in Bitcoin ETFs. In its SEC filing last year, the bank reported holdings of $14 million.
In the latest US Bank SEC filing, US Bank revealed it held $24 million in Bitcoin ETFs. The new report indicates a $10 million increase since its last filing of $14 million. According to etf.com data, Bitcoin ETFs collectively accumulated $1.1 billion in the five trading days ending Tuesday.
US Bank increases Bitcoin ETF holdings by $10 million
🇺🇸US Bank reports $24 million holdings in #Bitcoin ETFs, up from its previous $14 million according to its latest SEC filings 👀
In the February 5 SEC filing, US Bank revealed it had increased its holdings in Bitcoin ETFs across different funds. The funds listed in US Bank’s Security and Exchange Commission (SEC), form 13F, included the Grayscale Bitcoin Trust ETF, Grayscale Bitcoin Mini Trust, iShares Bitcoin Trust ETF, and Fidelity Wise Origin Trust.
In November 2024, 206 companies listed in the United States revealed in their 13F filings they had invested in spot Bitcoin ETF shares. The new inclusions in the filings were JP Morgan Chase, Goldman Sachs, Bank of Canada, UBS Group, Bank of America, and HSBC.
Goldman Sachs revealed it held over $700 million in spot Bitcoin ETF shares across five funds. The company added its largest holding was in BlackRock’s ETF, with an investment of over $461 million. HSBC indicated it held over $7 million in Bitcoin ETF across different funds.
According to etf.com data, Bitcoin ETFs experienced a surge in inflows amid market volatility, which is fueled by Trump’s administration policy shifts. Etf.com flow data revealed that IBIT recorded approximately $900 million last week. FBTC also recorded an increase of $49.7 million, while Ark 21 shares Bitcoin ETF(ARKB) recorded $53.6 million.
CoinMarketCap data revealed that Bitcoin fell by more than 1.3% in the past 24 hours. Bitcoin currently trades at $98,000 as markets adjust to Trump’s regulatory shifts towards the crypto ecosystem.
US spot Ethereum ETFs record inflows amid market dip
Despite the overall market dip, US spot Ethereum ETFs recorded increased net inflows. According to CoinMarketCap data, Ethereum recorded a 2% increase in 24 hours and is currently trading at $2,840.
In 2024, US Ether ETFs recorded lower inflows than their Bitcoin counterparts. However, in light of the current recovery rally, the ETFs have recorded increased inflows of $487 million in the past five days.
BlackRock’s iShares Ethereum Trust (ETHA) accumulated approximately $276.2 million in the five days to Tuesday. However, Grayscale Ethereum Trust (ETHE) remained the largest ETH ETF despite the new inflows recorded by BlackRock.
The data indicated ETHE held $3.6 billion in assets under management (AUM) compared to ETHA’s $3.42 billion. Grayscale’s Ethereum Mini Trust held $1.29 billion in AUM, followed by Fidelity’s Ethereum Fund (FETH), which had $1.19 billion. Fidelity also recorded $27.47 million in inflows, while Bitwise recorded inflows of $4.14 million.
The increased inflows in Bitcoin and Ethereum ETFs have reportedly triggered more filings for altcoin ETFs. According to Kaiko data, there are over 20 altcoin ETFs filings, including Solana and XRP. Six of the Solana and XRP filings are Spot ETFs, while the rest include Futures ETFs.
Other altcoins are in the process of applying to the regulator for ETFs. Kaiko noted that it is still unclear what the demand for altcoin ETFs will be once the regulator approves them.
The analytics firm argued that the market for such ETFs may be shallow and concentrated on offshore venues. It warned that these factors could limit future demand for crypto-related ETFs. Kaiko also pointed out that although approval processes may change, market dynamics would still eventually catch up.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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