Institutional interest in Bitcoin is happening and growing, but often behind closed doors. While retail investors closely follow Bitcoin’s price movements, some of the biggest players in finance are quietly making their moves. One such player is the Bank of Montreal (BMO), Canada’s third-largest bank.

Despite staying silent on its crypto strategy, BMO was recently forced to reveal a $150 million investment in Bitcoin ETFs through a regulatory filing with the U.S. Securities and Exchange Commission (SEC).

This unexpected disclosure has reignited discussions about how deeply traditional banks are getting involved in Bitcoin.

In the U.S., any investment firm managing over $100 million must file a Form 13F-HR with the SEC, making BMO’s Bitcoin involvement public. The filing confirms that the bank has made a significant investment in the spot Bitcoin ETF market, with the largest portion allocated to BlackRock’s iShares Bitcoin ETF (IBIT), one of the top players in the industry.

However, the bank has also spread its investment across multiple Bitcoin ETFs. The document reveals that around $11 million has been allocated to Ark 21Shares Bitcoin ETF, Grayscale Bitcoin Trust, and Fidelity Wise Origin Bitcoin Fund.

Source: COINPEDIA