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Banco Santander discloses $4.3M Bitcoin position via BlackRock’s IBIT

The Spanish bank bought 129,615 shares of BlackRock’s iShares Bitcoin Trust, adding to a broader shift by traditional institutions toward regulated spot Bitcoin ETFs.

Reported · Written up by our desk · Market Structure

Banco Santander has disclosed a $4.3 million Bitcoin investment through BlackRock’s iShares Bitcoin Trust, according to an SEC filing cited by Bitcoin Magazine. The Madrid-based bank purchased exposure via the IBIT ETF, buying a total of 129,615 shares.

Bitcoin Magazine notes that the move reflects how traditional institutions have increasingly sought regulated Bitcoin exposure after the SEC approved a slate of crypto ETFs in 2024. The outlet also points to the role of ETF wrappers in making participation easier by avoiding direct ownership of Bitcoin and the need to handle storage and private keys.

The report adds that Santander’s digital bank, Openbank, had previously allowed customers to buy Bitcoin and other cryptocurrencies, and that it has taken a more customer-friendly approach to marketing digital assets. BlackRock’s IBIT is described as the top-performing crypto ETF, holding $46.9 billion in assets under management and receiving more inflows than other funds, according to the fund’s website.

Bitcoin Magazine also says the U.S. Bitcoin fund market totals more than $83 billion in assets, citing CoinGlass data, and that other major institutions have also moved into Bitcoin exposure through ETFs after 2024 approval.

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