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.
Bitcoin (BTC) has delivered gains of 17% in the past month and currently stands at $109,736 as the top crypto has retreated a bit from its fresh all-time high. Trading volumes have gone up by 20.3% in the past 24 hours after the token neared the $111,000 threshold once again as selling pressure at these […]
A severe disruption in Japan’s government bond market is setting off alarm bells far beyond Tokyo, with analysts warning the fallout could spread across global financial systems—crypto markets included.
French-listed tech firm Blockchain Group is ramping up its Bitcoin holdings through a €63.3 million ($72 million) convertible bond offering, marking its latest move to position itself as a Bitcoin-heavy holding company.
Trump Media & Technology Group is diving deeper into crypto with a $2.5 billion investment in Bitcoin, aiming to solidify its presence in the financial sector.