Banco Santander quietly added a stake in BlackRock's iShares Bitcoin Trust, the largest spot Bitcoin ETF, marking a fresh foray into crypto assets for the Spanish banking giant. The recent 13F filing submitted to the SEC reveals the bank acquired 129,615 shares of the fund, valued around $4.31 million as of June 30. This move also includes a debut position in the iShares Ethereum Trust, with nearly 298,000 shares worth $3.54 million, alongside a $1.51 million holding in gold via the iShares Gold Trust.
While these crypto ETF holdings are small together they represent approximately 0.05% of Santander’s vast $16 billion U.S. equity portfolio the step is notable. Prior reports showed no Bitcoin ETF exposure from Santander, confirming this as a first. The bank’s crypto assets are managed by SAM Investment Holdings, the asset management arm based in Madrid.
This disclosure puts one of Europe’s largest banking institutions into a slowly growing crowd of traditional finance players dipping toes into spot crypto ETFs after U.S. regulatory approval in early 2024. The iShares Bitcoin Trust (IBIT) remains the dominant spot Bitcoin ETF since its launch. It’s worth noting that Santander is already active in crypto through its digital bank Openbank, which enables retail crypto trading across Europe.
Bitcoin pricing at the time edged up slightly to about $64,700, with Ether also climbing to near $1,920 as crypto markets showed modest gains. Meanwhile, other major financial players continue to reveal their crypto holdings, reflecting increasing integration of digital assets in traditional portfolios. This move by Santander shows how mainstream institutions are testing crypto exposures cautiously but steadily.
This article is for informational purposes and does not constitute financial advice.
