Barclays Bank has revealed a major investment in Bitcoin through BlackRock's iShares Bitcoin Trust (IBIT), marking another milestone in institutional adoption of cryptocurrency-based financial products.
According to the bank's recent 13F filing with the U.S. Securities and Exchange Commission (SEC), Barclays acquired 2,473,064 IBIT shares valued at $131 million during the fourth quarter of 2024.
The UK-based multinational bank made this investment between October and December 2024, a period that saw increased interest in Bitcoin following the U.S. presidential election. The timing coincided with President Donald Trump's pro-Bitcoin stance, which sparked renewed institutional interest in cryptocurrency investments.
Barclays joins other major financial institutions in expanding their Bitcoin ETF holdings. Goldman Sachs has doubled its Bitcoin ETF exposure compared to the previous quarter, while JPMorgan reported holdings worth nearly $1 million as of December 31.
BlackRock's IBIT has emerged as a leading Bitcoin investment vehicle, attracting substantial institutional capital. The fund's success reflects growing acceptance of cryptocurrency investments through traditional financial instruments, though BlackRock's head of digital assets, Robert Mitchnick, notes that institutional adoption remains in early stages. The move by Barclays represents a strategic approach to gaining Bitcoin exposure through regulated investment products rather than direct cryptocurrency holdings. This investment strategy allows traditional financial institutions to participate in the cryptocurrency market while maintaining compliance with existing regulatory frameworks.
As of February 14, Bitcoin trades at $97,241, with market analysts projecting potential price targets ranging from $180,000 to $200,000 by the end of the year.