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Spain’s largest bank, Banco Santander, has disclosed a $4.3 million investment in Bitcoin.
A filing with the U.S. Securities and Exchange Commission shows that the Madrid‑based bank acquired exposure through BlackRock’s iShares Bitcoin Trust, purchasing 129,615 shares.
This filing represents the latest instance of a traditional institution seeking exposure to the largest cryptocurrency by market capitalization.
In the past year, Santander’s digital subsidiary Openbank has enabled its customers to purchase Bitcoin and other cryptocurrencies, adopting a more supportive stance toward digital‑asset marketing.
BlackRock’s Bitcoin Trust (IBIT) lets investors gain Bitcoin exposure without needing to hold or store the cryptocurrency directly.
The shares are listed on a stock exchange and can be purchased swiftly through a standard brokerage account.
BlackRock’s IBIT is the most successful crypto ETF, attracting more inflows than any other such fund and currently managing $46.9 billion in assets, according to its website.
Following the 2024 approval of Bitcoin ETFs, other major institutions have also acquired Bitcoin exposure through these products. Previously deterred by the need to manage storage and private keys, many investors entered the market after the SEC approved a wave of ETFs in 2024.
The crypto ETF market is already crowded, with popular offerings from leading asset managers such as BlackRock, Fidelity, and Morgan Stanley.
U.S. Bitcoin funds now manage more than $83 billion in assets, according to CoinGlass data.
