Spanish Bank Banco Santander Reveals $4.3M Bitcoin Investment
Bitcoin Magazine
Spanish Bank Banco Santander Reveals $4.3M Bitcoin Investment
Spain’s largest bank, Banco Santander, has revealed a $4.3 million investment in Bitcoin.
According to a Securities and Exchange Commission filing, the Madrid-based bank bought the exposure via BlackRock’s iShares Bitcoin Trust — a total of 129,615 shares.
The filing is the latest example of a traditional institution seeking exposure to the biggest cryptocurrency by market cap.
Over the past year, Santander’s digital bank, Openbank, has allowed customers to buy Bitcoin and other cryptocurrencies and began a more friendly approach to marketing digital assets to customers.
BlackRock’s Bitcoin Trust (IBIT) allows investors to buy exposure to Bitcoin without having to own and store the digital coin directly.
The shares trade on a stock exchange and can be bought quickly and easily via a brokerage account.
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