Canada’s six largest banks now hold a combined US$21M in U.S. bitcoin ETFs, per recent SEC filings. BMO leads with US$13.5M, followed by Scotiabank and RBC. While some holdings reflect client investments, others remain unclear. Bitcoin ETFs, launched in January 2024, have gained rapid popularity, surpassing US$100B in global assets.
Historically wary of crypto, Canadian banks now bolster expertise to handle emerging risks flagged by regulators. OSFI’s new disclosure rules on crypto exposure take effect in January 2025. Though volatile, bitcoin ETFs mitigate risks tied to crypto-trading platforms, offering a bridge between traditional finance and digital assets.
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