BNP Paribas, Europe’s 2nd Largest Bank, Acquires Bitcoin ETF Shares from BlackRock: Unveiling BTC Investment Strategy

• BNP Paribas, the second-largest bank in Europe, has made its first known investment in Bitcoin via BlackRock’s iShares Bitcoin Trust (IBIT).
• The bank purchased 1,030 IBIT shares in Q1 2024, marking a significant shift in its stance towards cryptocurrencies.
• Despite recent outflows from Bitcoin ETFs, this move by BNP Paribas may signal a growing interest from institutional investors.

BNP Paribas, Europe’s second-largest bank, has made its first foray into Bitcoin investment, purchasing shares in BlackRock’s iShares Bitcoin Trust. This marks a significant shift in the bank’s stance towards cryptocurrencies.

BNP Paribas Dips Its Toes into Bitcoin Investment

According to a recent 13F filing with the U.S. Securities and Exchange Commission (SEC), BNP Paribas purchased 1,030 IBIT shares in the first quarter of 2024 at $40.47 a share, for a total of $41,684.10. While this investment represents a miniscule portion of the bank’s overall portfolio, it is noteworthy as one of the first verified instances of a major financial institution investing in a spot Bitcoin ETF.

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