Top U.S. Bank Reveals Major Exposure to Bitcoin (BTC)

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.