Growing institutional interest in Bitcoin is an undeniable fact. Important it is to note that institutional players often engage in the Bitcoin market silently. One such silent engagement was exposed recently, when the Bank of Montreal, Canada’s third-largest bank by asset size, officially declined its massive Bitcoin investment in its Form 13F-HR to the United States Securities and Exchange Commission. The declaration has once again triggered serious discussions on growing institutional interest in BTC.

Every institutional investment manager controlling more than $100 million in the US is required to file a Form 13F-HR to the SEC. It was this requirement that forced the Canadian banking giant to officially confess its extreme interest in Bitcoin.

As per the recent Form 13F-HR filing of BMI, the bank has at least a $150 million investment in the spot Bitcoin ETF market.

A spot Bitcoin ETF tracks the current market price of Bitcoin, offering investors exposure to BTC without directly holding the asset.

Source: COINPEDIA