The Bank of Montreal (BMO), one of Canada’s leading financial institutions with assets exceeding $1 trillion, has recently disclosed its holdings in various Bitcoin ETFs through a filing with the U.S. Securities and Exchange Commission (SEC). This disclosure aligns with regulatory requirements mandating that investment managers with over $100 million in U.S. exchange-traded securities report their holdings quarterly to the SEC.
According to the filing, BMO holds positions in several prominent Bitcoin ETFs, including Fidelity’s FBTC, Franklin Templeton’s EZBC, BlackRock’s IBIT, and Grayscale’s GBTC. This move reflects a growing trend among major financial institutions to integrate crypto-related assets into their investment portfolios.
In contrast to BMO’s increased exposure, the broader spot BTC ETF market has experienced notable outflows recently. Data from Farside Investors indicates that on February 6, 2025, Bitcoin ETFs collectively saw a net outflow of $140.2 million. The most significant withdrawal was from the FBTC fund, which lost $103.2 million, followed by the GBTC fund with an outflow of $42.2 million.
???? NEW: Bank of Montreal has significantly increased its Bitcoin ETF holdings:
According to SEC filings today, it has $150m across Ark, Fidelity, BlackRock, and Grayscale’s ETFs.
Up from $13m the previous quarter.
BOM is one of Canada’s Big 5 Banks, with USD $1T in assets. pic.twitter.com/iGQLbB07Ka
— Julian Fahrer (@Julian__Fahrer) February 13, 2025
These developments occur amid heightened geopolitical tensions and economic uncertainties, factors that have historically influenced investor behavior in the cryptocurrency market. Despite the recent outflows, some Bitcoin ETFs have continued to attract investments. For instance, the Bitwise Bitcoin ETF (BITB) reported an inflow of $48.3 million, while the Fidelity Wise Origin Bitcoin Fund (FBTC) and the ARK 21Shares Bitcoin ETF (ARKB) saw inflows of $36.2 million and $16.5 million, respectively.
As of February 14, 2025, Bitcoin is trading at approximately $96,448, reflecting a slight decrease from the previous day’s close. The crypto’s price has shown resilience despite recent market fluctuations, maintaining its position as a focal point for both institutional and retail investors.
BMO’s disclosure underscores the increasing involvement of traditional financial institutions in the crypto space, even as the market experiences mixed signals from various investor segments. The bank’s diversified holdings in multiple BTC ETFs suggest a strategic approach to the diverse crypto arena.
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