Wells Fargo disclosed its exposure to spot Bitcoin ETFs in an SEC filing, including positions in Grayscale's spot Bitcoin ETF, ProShares Bitcoin Strategy futures ETF, and shares in Bitcoin Depot Inc.
Spot Bitcoin ETFs allow investors to participate in Bitcoin price movements without owning the asset, appealing to institutional investors seeking regulated exposure to BTC.
The revelation by Wells Fargo is part of a larger trend of institutional adoption of Bitcoin, with major banks and financial institutions actively exploring ways to integrate BTC into their offerings.
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