PNC Bank, the eighth-largest bank in the United States, has disclosed a significant increase in its Bitcoin-related investments, according to its latest filing with the Securities and Exchange Commission.
The bank now holds $67 million in Bitcoin-backed assets, primarily through the Bitwise Bitcoin ETF, marking a substantial rise from the $10 million it reported in the previous year. This move highlights the growing institutional adoption of Bitcoin ETFs within the U.S. banking sector.
PNC is not alone in this trend. Other major financial institutions, including Wells Fargo, Morgan Stanley, and BNP Paribas, have also ramped up their exposure to Bitcoin investment products. Their involvement signals a broader shift among traditional banks as they explore digital asset opportunities despite ongoing regulatory scrutiny.
Meanwhile, data from Arkham Intelligence reveals that BlackRock, the world’s largest asset manager, has an even greater stake in the crypto market. The firm reportedly manages around $60 billion in digital assets, with $56 billion allocated to Bitcoin and $3.5 billion to Ethereum.
As institutional adoption continues to grow, Bitcoin’s role in the financial landscape appears to be solidifying, with major banks and asset managers deepening their engagement with the cryptocurrency market.
BlackRock’s iShares Bitcoin Trust (IBIT) has officially crossed the 700,000 BTC mark, reinforcing its position as one of the fastest-growing exchange-traded funds in financial history.
Bitcoin may be gearing up for a significant move as its volatility continues to tighten, according to on-chain insights from crypto analyst Axel Adler.
Two major developments are converging in July that could shape the future of Bitcoin in the United States—both tied to President Trump’s administration and its expanding crypto agenda.
Digital asset investment products recorded $1.04 billion in inflows last week, pushing total assets under management (AuM) to a record high of $188 billion, according to the latest report from CoinShares.