Rothschild and US Bancorp Signal Institutional Trust in Bitcoin With Over $17 Million ETF Buys

Key Takeaways

• US Bancorp’s ETF investment signals growing interest in Bitcoin exposure among traditional financial institutions.
• Rothschild’s ETF investment suggests that even historically conservative wealth management firms are exploring BTC.
• Recent investments by various firms underscore the expanding trend of institutional adoption of Bitcoin ETFs.

US Bancorp, one of America’s largest banking institutions in the United States, has invested  $15 million in a Bitcoin ETF.

Edmond De Rothschild Holding SA also disclosed investments exceeding $4.2 million in spot Bitcoin ETFs. This suggests that more larger institutions are taking an interest in crypto.

US Bancorp Invests Over $15 Million in Spot Bitcoin ETFs

On May 8, US Bancorp announced  investments exceeding $15 million in spot Bitcoin ETFs. The breakdown of their investments includes purchasing approximately 87,744 shares of Fidelity’s FBTC valued at $5.4 million, 46,011 shares of Grayscale’s GBTC worth $2.9 million, and 178,567 shares of BlackRock’s IBIT totaling $7.2 million.

According to their latest 13F filing, US Bancorp’s total investments amounted to $71.8 billion. Meanwhile, the company ranks as one of the largest bank holding companies in the US, managing over $663 billion in assets under management (AUM) by the end of 2023.

Edmond De Rothschild Invests Over $4 Million in Spot Bitcoin ETFs

Meanwhile, Edmond De Rothschild Holding SA reported  more than $4.2 million in spot Bitcoin ETFs investments on May 9.

The company disclosed its investments reported 103,600 shares of BlackRock’s IBIT valued at just under $4.2 million. Additionally, the firm invested in 1,300 shares of Grayscale’s GBTC, valued at $82,121.

According to its latest 13F filing, the firm’s total investments reached $6 billion.

Female-Led Rothschild Bank Embraces Bitcoin ETFs

Edmond de Rothschild (Suisse) S.A. currently holds investments worth $4.2 million in Bitcoin exchange-traded funds. These include shares worth $4.2 million in BlackRock’s iShares Bitcoin Trust (IBIT) and $82,121 in the Grayscale Bitcoin Trust (GBTC). This bank is part of the Edmond de Rothschild Group, which manages approximately $174 billion in assets.

In 2019, the Benjamin de Rothschild family started steps to privatize the iconic Swiss bank . Two branches—France’s Rothschild & Co and Switzerland’s Edmond de Rothschild Bank—settled a longstanding dispute over the use of the family name in 2018. The Paris-based branch agreed to avoid using the standalone name for its banking and asset management business.

The Rothschild banking dynasty, founded by Mayer Amschel Rothschild , dates back to the 18th century. Moving forward 200 years, in 2023, Ariane de Rothschild became the first woman to serve as CEO  of Edmond de Rothschild Group.

The Rothschild heirs are estimated to hold a fortune exceeding $1 billion. Meanwhile, Chicago-based Rothschild Investment Corporation, which is not affiliated with the European family, also revealed its investments in Grayscale’s GBTC in 2020.

Institutional Investors Flock to Spot Bitcoin ETFs

In recent weeks and months, numerous companies have revealed investments in spot Bitcoin ETFs. Firms such as Hightower Advisors, SouthState Bank, Susquehanna International Group, BNP Paribas, Burkett Financial Services, and Legacy Wealth Asset Management have all made purchases in various ETFs.

MassMutual has also continued its investment in Grayscale’s Bitcoin Trust (GBTC), reporting the acquisition of 227 shares valued at $14,340 on May 9.

These recent investment activities are part of the disclosures for the first quarter of 2024. With the quarterly 13F filing deadline set for May 15, it’s expected that more firms will also announce their investments in the coming days. Executives from BlackRock and Bitwise anticipate that institutional investors will continue to persist in their acquisition of spot Bitcoin ETFs.

As of May 9, the combined assets under management (AUM) of spot Bitcoin ETFs stood at $52.7 billion, with nearly $11.8 billion in cumulative inflows recorded by May 8.

About the Author

Teuta Franjkovic

Teuta is a seasoned writer and editor with more than 15 years of experience. She has expertise in covering macroeconomics and technology as well as the cryptocurrency and blockchain industries. She has worked for several publications as a journalist and editor, including Forbes, Bloomberg, CoinTelegraph, Coin Rivet, CoinSpeaker, VRWorld and Arcane Bear. Teuta began her professional career in 2005, working as a lifestyle writer at Cosmopolitan in Croatia. From there, she branched out to several other publications, covering mainly business and the economy. She then turned her attention to the world of cryptocurrency and blockchain, believing that crypto is among the most important inventions in the history of humanity. Her involvement in fintech began in 2014 and she has since lent her expertise in writing, editing and gathering information about the world of crypto, blockchain, NFTs and Web3. An all-round news hound, mentor, editor, and writer, Teuta enjoys teamwork and good communication. She holds a WSET2 diploma and has a thing for chablis, punkrock music and shoes. She also holds a double MA in Political science and Entrepreneurship.

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