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Banks hold more than $9.2 billion in crypto

$9.2 billion is held worldwide by 19 banks in Bitcoin, Ethereum and more.

By Mike Hesp
• 2 min read
Banks hold more than $9.2 billion in crypto

9.2 billion US dollars are held worldwide by 19 banks in Bitcoin, Ethereum and others. This comes from a new report from the Bank for International Settlements.

The data come from 19 financial institutions, mainly from the US and Europe. It’s not surprising that investments in Bitcoin (31 percent) and Ethereum (22 percent) make up the lion’s share, followed by financial products with BTC or ETH as the underlying value. Together, these asset classes account for about 90 percent of banks’ crypto portfolios.

Additionally, altcoins Cardano, Solana, Ripple, Litecoin, Polkadot and Stellar also show up on banks’ balance sheets, albeit with much lower weightings (0.4 to 2 percent).

The report notes an overall imbalance in banks’ exposure. More than half of crypto activity came from two banks, and another 40 percent from four financial institutions.

Overall, cryptocurrencies, however, accounted for only about 0.14 percent of banks’ total portfolios on average. Yet crypto is gaining traction in Germany’s financial sector as well. Volksbank Bayern Mitte has, for example, started its first Bitcoin ATM in July.

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