In a recent filing to the Securities and Exchange Commission (SEC), Wells Fargo, a major U.S. bank, revealed its involvement with spot Bitcoin Exchange-Traded Funds (ETFs).

According to the filing, Wells Fargo has invested in Grayscale's spot Bitcoin ETF, ProShares Bitcoin Strategy futures ETF, and holds shares in Bitcoin Depot Inc., signaling a high interest in the Bitcoin market. 

Spot Bitcoin ETFs allow investors to track Bitcoin's price fluctuations without directly owning the asset, appealing to institutional investors looking for a more regulated Bitcoin investment option.

The news of Wells Fargo's involvement with spot Bitcoin ETFs aligns with a growing trend of institutional Bitcoin adoption. 

Many leading banks and financial institutions are now exploring ways to integrate Bitcoin into their services and gain exposure to the asset.

Additionally, earlier this week, Susquehanna International Group, LLP revealed in an SEC filing that it possesses $1.8 billion in various Bitcoin-related ETFs, including spot Bitcoin ETFs.

This announcement is part of a broader movement among large financial entities making their Bitcoin holdings public.

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