BMO Invests $150M in Bitcoin ETFs, Backs BlackRock's IBIT
1min read Bank of Montreal, Canada's third-largest bank by assets, has made a significant investment in Bitcoin ETFs, according to a recent filing with the U.S. Securities and Exchange Commission (SEC). The investment details emerged through a mandatory Form 13F-HR filing, which is required for investment firms managing over $100 million in assets.
The majority of BMO's investment, approximately $139 million, has been allocated to BlackRock’s iShares Bitcoin ETF (IBIT). This choice aligns with current market trends, as IBIT leads the spot Bitcoin ETF market with $57.03 billion in assets under management.
BMO has diversified its remaining investment across several other spot Bitcoin ETFs. The bank has distributed roughly $11 million among other major providers, including Ark 21Shares Bitcoin ETF, Grayscale Bitcoin Trust, and Fidelity Wise Origin Bitcoin Fund.
The filing also revealed BMO’s initial exploration of the Bitcoin futures market. The bank has made a smaller investment of $17,000 in the ProShares Bitcoin ETF (BITO), which currently stands as the largest Bitcoin futures ETF with $2.76 billion in assets under management.
This investment comes at a time when the spot Bitcoin ETF market features several established players. Following BlackRock’s IBIT, other major funds include Fidelity’s FBTC with $20.57 billion in assets, Grayscale’s GBTC managing $19.44 billion, Ark 21Shares’ ARKB with $4.94 billion, and Grayscale’s BTC holding $4.07 billion.
The spot Bitcoin ETF market includes additional participants such as Bitwise’s BITB, VanEck’s HODL, Valkyrie’s BRRR, Invesco/Galaxy’s BTCO, Franklin Templeton’s EZBC, and WisdomTree’s BTCW, offering investors a range of options for Bitcoin exposure.
BMO’s investment strategy appears focused on established market leaders, with the bulk of its capital directed toward BlackRock’s product. This approach suggests a preference for larger, more liquid ETF offerings in the Bitcoin space.
The disclosure of BMO’s Bitcoin ETF investments came through standard regulatory requirements. As a firm managing over $100 million in assets, BM 
