BNP Paribas (BNP) Leaps into Crypto Space with Bitcoin (BTC) ETF Investment
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- BNP Paribas, the second-largest bank in the European Union, has purchased BlackRock shares worth $41,684 in the first quarter, indicating a possible shift towards Bitcoin.
- The bank acquired 1,030 iShares Bitcoin Trust (IBIT) at an average of $40.47 per share, a small but significant move in the mainstream embrace of Bitcoin.
- Other mainstream banks are expected to follow suit, as the demand for Bitcoin among institutional investment firms grows.
BNP Paribas, a banking giant in the EU, has made a significant move towards Bitcoin, purchasing BlackRock shares and signaling a potential shift in mainstream financial institutions’ approach to the cryptocurrency.
BNP Paribas’ Entry into Bitcoin
According to recent filings, BNP Paribas, the second-largest bank in the EU, has purchased BlackRock shares worth $41,684 in the first quarter. The bank acquired 1,030 iShares Bitcoin Trust (IBIT) at an average of $40.47 per share. While this investment is small compared to the bank’s $600 billion in Assets Under Management (AUM), it marks a significant shift in the mainstream embrace of Bitcoin.
