Wells Fargo Confirms Investments in Bitcoin Through Grayscale and ProShares ETFs
Summary:
Wells Fargo, a US-based financial services giant, has confirmed its investments in Bitcoin exchange-traded funds offered by Grayscale and ProShares, according to a recent SEC filing. The firm holds shares in the ProShares Bitcoin Strategy ETF, Grayscale Bitcoin Trust, and crypto ATM provider Bitcoin Depot, with a total value of $143,111. Despite being the third-largest U.S. bank with $1.7 trillion in assets, its Bitcoin-related investments remain relatively small. The SEC clarified that the provided financial data may not be "accurate and complete.”
The financial services giant, Wells Fargo, has confirmed its investments in Bitcoin (BTC) exchange-traded funds (ETFs) offered by Grayscale and ProShares, according to a filing with the U.S. Securities and Exchange Commission (SEC) on May 10. Wells Fargo disclosed it owned 37 shares in the ProShares Bitcoin Strategy ETF, which allows it to access the BTC futures, and 2,245 shares in Grayscale Bitcoin Trust that has since transformed into an ETF. Furthermore, the company revealed a 52-shareholding in Bitcoin Depot, a firm providing crypto ATM services. The total worth of these three investments linked with Bitcoin stood at $143,111; a relatively tiny ownership considering the enormity of the bank. As of June 2023, Wells Fargo had $1.7 trillion worth of assets, making it the third-largest bank in the United States terms of holdings. The SEC has advised that the data given by Wells Fargo should not be understood as being "accurate and complete”. There will be further updates on this topic as more information becomes available.
Published At
5/10/2024 8:09:29 PM
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