Canada’s Third-Largest Bank Buys $150M in Bitcoin ETFs

The bulk of the investment—$139 million—was allocated to BlackRock’s iShares Bitcoin Trust ETF (IBIT), with the remaining $11 million spread across the Ark 21Shares Bitcoin ETF, Fidelity Wise Origin Bitcoin Fund, and Grayscale Bitcoin Trust. This information was revealed through the mandatory 13F-HR form filed by the bank with the U.S. Securities and Exchange Commission (SEC).

The announcement sparked a lively debate within the crypto community. While many saw it as a positive sign of institutional adoption, others were quick to mock the banking sector for once labeling Bitcoin a “financial bubble.” Meanwhile, some skeptics questioned whether the bank was investing on its own behalf or merely acquiring ETFs for its brokerage clients.

Did they actually buy it for themselves or just providing custody for their brokerage clients? It’s probably the latter,

wrote X user citadel21.

With the introduction of spot Bitcoin ETFs, institutional investors now have a regulated gateway into the crypto market. This development has further legitimized Bitcoin’s role in modern finance, offering firms a way to gain exposure without direct holdings.

According to Quentin François, co-founder of weRate, this is just the beginning. He believes institutional adoption will accelerate, leading to even larger investments in digital assets in the near future.

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