Wealth manager, Wells Fargo joins the growing list of firms with spot Bitcoin ETF exposure. A new filing with the Securities and Exchange Commission (SEC) shows the bank has acquired Bitcoin exposure sparking debates among crypto users.
The institutional investor follows a growing list of United States wealth managers to gain exposure to the largest cryptocurrency after the approval of spot ETFs on Jan 11. According to the SEC filing, Wells Fargo has positions in Grayscale’s Bitcoin ETF, ProShares Bitcoin Futures ETF, etc. The news comes following previous projections of renewed institutional inflow in the market.
Wells Fargo Drives New Bitcoin ETF Optimism
The news of the third largest bank in the United States gaining Bitcoin exposure through ETFs is huge for the market amid concerns of dwindling inflows to ETFs. Coming out of the 2022 bear market, the anticipation for spot Bitcoin ETFs drove inflows to the assets. As a result to price of Bitcoin soared above $44,000 in Dec
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