Legacy US bank increases BTC exposure via Grayscale Bitcoin Trust

A division of Chicago’s First Midwest Bank increased its Bitcoin exposure last month, a filing with the US Securities and Exchange Commission showed.

The bank, founded 1933, now holds over 27 Bitcoin via the Grayscale Bitcoin Trust (GBTC)—an institutional, regulated product offered by Grayscale Investments that holds a fraction of Bitcoin per publicly traded share, allowing investors to be exposed to the asset in a safe manner.

First Midwest earlier held 7,693 GBTC shares as of March 2021. However, it seems to be buying the dip with its increase in exposure, holding over 29,498 GBTC shares (≈$910,000) as of June 30.

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