BMO Invests $150M in Bitcoin ETFs, Sparking Institutional Interest

Coin WorldFriday, Feb 14, 2025 1:16 am ET

1min read

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The Bank of Montreal (BMO), Canada's third-largest bank by assets, has revealed a significant investment in Bitcoin ETFs, according to a recent filing with the U.S. Securities and Exchange Commission (SEC). The filing, a Form 13F-HR, shows that BMO has invested at least $150 million in the spot Bitcoin ETF market.

BMO's investment in Bitcoin ETFs is a clear indication of growing institutional interest in the cryptocurrency. While institutional players often engage in the Bitcoin market quietly, BMO's filing has sparked serious discussions about the increasing involvement of institutional investors in BTC.

The filing reveals that a substantial portion of BMO's spot Bitcoin ETF investment is held in BlackRock's iShares Bitcoin ETF, one of the leading players in the spot Bitcoin ETF market. The Canadian bank has invested no less than $139 million in iShares Bitcoin ETF.

BMO has also diversified its spot Bitcoin ETF investment to some extent. The filing shows that the bank has distributed at least $11 million among other prominent players, including Ark 21Shares Bitcoin ETF, Grayscale Bitcoin Trust, and Fidelity Wise Origin Bitcoin Fund.

In addition to its spot Bitcoin ETF investments, the filing also indicates that BMO has explored the possibility of the Bitcoin futures ETF market. The bank has invested $17,000 in the ProShares Bitcoin ETF, which is a BTC futures ETF.

The spot Bitcoin ETF market is dominated by several prominent ETFs, including BlackRock's IBIT, Fidelity's FBTC, Grayscale's GBTC, Ark/21 Shares's ARKB, Grayscale's BTC, Bitwise's BITB, VanEck's HODL, Valkyrie's BRRR, Invesco/Galaxy's BTCO, Franklin Templeton's EZBC, and WisdomTree's BTCW. Among these, IBIT, FBTC, GBTC, ARKB, and BTC are the top five spot Bitcoin ETFs by Asset Under Management (AUM).

BMO's investment strategy appears to focus primarily on the top players in the spot BTC ETF market. Notably, ProShares' BITO is the top player in the Bitcoin futures ETF market, with an AUM

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