- BMO invests $150M in Bitcoin ETFs, with $139M in BlackRock’s IBIT, per SEC filing.
- Bank of Montreal expands Bitcoin exposure, allocating $11M to ARK, Fidelity, and Grayscale.
- BMO’s Bitcoin ETF holdings surged over 1,000%, rising from $13M to $150M in one quarter.
The Bank of Montreal (BMO), Canada’s third-largest bank by asset size, made a major investment in Bitcoin Exchange-Traded Funds (ETFs). The bank disclosed its $150 million worth of assets through a Securities and Exchange Commission (SEC) regulatory filing. As an institutional investment manager handling over $100 million, BMO is required to file reports on its digital asset investments, reflecting its growing interest in the sector.
BMO’s Bitcoin ETF portfolio is primarily allocated to BlackRock’s iShares Bitcoin ETF (IBIT), with a $139 million investment. Many institutional investors prefer IBIT for Bitcoin exposure due to BlackRock’s strong presence in the ETF market. Furthermore, BMO has invested $11 million across various Bitcoin ETF holdings, including Grayscale and Fidelity.
BMO’s Strategic Bitcoin ETF Investments
The filing also revealed that BMO invested $17,000 in the ProShares Bitcoin ETF (BITO), which focuses on Bitcoin futures contracts. Although relatively small, this investment highlights BMO’s interest in diverse strategies for gaining exposure to Bitcoin price movements.
BlackRock’s IBIT remains BMO’s preferred Bitcoin ETF due to BlackRock’s dominance in the crypto ETF market. BlackRock currently manages the largest Bitcoin ETF, with assets under management (AUM) exceeding $57 billion, as institutional adoption of Bitcoin grows.
Related: Goldman Sachs Boosts Bitcoin, Ethereum ETF Holdings to $2B
Institutional Interest in Bitcoin ETFs Grows
BMO’s Bitcoin ETF investments reflect a growing institutional shift toward cryptocurrency. More mainstream financial institutions are embracing Bitcoin ETFs, deepening their involvement in the crypto market and accelerating adoption.
Institutional investors see Bitcoin ETFs as a convenient way to gain crypto exposure without dealing with custody or security concerns. Major institutions like BMO are leading the Bitcoin ETF market, likely encouraging more financial firms to adopt Bitcoin as an investment.
