Wells Fargo invests in Grayscale spot Bitcoin ETF

Wells Fargo ( WFC ), one of the largest U.S. banks, has invested in Grayscale's spot Bitcoin ETF offering. The company owns 37 ProShares Bitcoin Strategy ETF shares, 2,245 shares of the Grayscale Bitcoin Trust converted into an ETF, and 52 Bitcoin Depot shares on its balance sheet. The total cost of the Bitcoin investment was over $143,000.

The SEC cautioned that the information provided by a financial firm should not be assumed to be accurate and complete. In February, Merrill Lynch's investment division and Wells Fargo's asset management division began offering some clients access to ETFs based on BTC, but clients must have brokerage accounts and request a Bitcoin ETF separately.

Wells Fargo ( WFC ) confirmed that spot Bitcoin ETFs are available for purchase upon regulatory approval through Wells Fargo Advisors or Wellstrade Bank's online platform. UBS Group AG also selectively offers SEC-approved spot Bitcoin ETFs to certain asset management clients with brokerage accounts.