Canadian Banks Enter U.S. Bitcoin ETF Market with Multi-Million Dollar Investments
Leading Canadian banks have recently entered the U.S. Bitcoin ETF market with multi-million dollar investments.
Scotia Bank and Toronto Dominion Bank (TD Bank), prominent financial institutions, disclosed their stakes through SEC filings.
Scotiabank invested over $1.5 million across three major Bitcoin ETFs: BlackRock’s IBIT, Grayscale Bitcoin Trust (GBTC), and Fidelity Wise’s FBTC. TD Bank, Canada’s second-largest bank, took a more conservative approach with about $121,410 in BlackRock’s IBIT ETF.
Additionally, both banks explored ProShares Bitcoin Strategy ETF (BITO) investments, with TD Bank allocating $484,500.
Combined, their investments total $2.18 million, marking a significant shift in the Canadian banking sector’s stance on digital assets.
READ MORE: Bank of Montreal Enters Bitcoin ETF Market Amid Institutional Adoption Surge
These moves come amid a resurgence in spot Bitcoin ETF inflows, totaling $166 million over two days, signaling recovery from recent outflows.
Recent data shows Bitcoin ETFs saw a $100.5 million inflow on May 14, with ARKB leading at $133.1 million, offsetting Grayscale’s $50.9 million outflow.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
