PNC Bank Invests in Bitcoin ETF, What’s Next for Crypto?

• PNC Bank increased its Bitcoin exposure through Bitwise ETF, signaling growing institutional interest in digital assets.
• Analysts predict XRP and Solana ETFs could attract $14 billion within a year, benefiting institutional investors.

PNC Bank, one of the United States’ top financial institutions, has discreetly entered the Bitcoin market. The bank revealed in its most recent 13F report sent to the US Securities and Exchange Commission (SEC) $67 million in Bitwise Bitcoin ETF (BITB).

With last year’s total at just $10 million, this is no small amount. If a bank this large starts taking Bitcoin seriously, other institutions may follow its lead.

How PNC Bank Reflects the Growing Crypto Adoption

Many people have definitely noticed PNC Bank’s choice to fund a Bitcoin ETF. Given assets under management of $325 billion, this action may provide a clue on the direction of institutional investing. Large banks have so often been wary in embracing digital assets. But PNC has now raised its visibility six-fold in one year.

PNC’s decision reflects how more institutions are embracing Bitcoin ETFs. Since launching, Bitcoin ETFs have pulled in $40.5 billion, according to Farside Investors. BlackRock raised its Bitcoin ETF holdings from $92 million in November 2024 to $140 million as of the latest month.

Could XRP and Solana ETFs Be Next?

Should this trend persist, it is not unthinkable that other cryptocurrencies would also find a place in big banks’ portfolios. After getting approved, Bloomberg ETF Senior Analyst Eric Balchunas even projects that the XRP ETF and Solana ETF may bring in a total of $14 billion in the first 12 months.

If true, XRP investors—who are expected to be the “biggest winners” from this evolution—will have a significant stride forward.

Moreover, XRP has the possibility to join Bitcoin, Solana, and Ethereum in a multi-billion dollar asset management portfolio according to Bitwise’s Head of Research Should this forecast come true, XRP’s standing as an institutional investment asset will be much more robust.

Bitcoin Opens the Way for Other Cryptos?

PNC Bank is acting in a manner that could be considered an early signal. Though they might start with Bitcoin as a “test run,” big banks won’t always participate in different cryptocurrencies immediately soon. Should the outcomes be good, they would most likely widen their investment focus to other digital assets including Solana, Ethereum, or perhaps XRP.

Stated differently, Bitcoin might be a significant point of access for large banks into the larger crypto space. PNC Bank could be only one of several banks beginning to consider digital asset investment. Should additional institutions follow similar actions, XRP and Solana ETFs may materialize sooner than predicted.