Bank Clients Just Dipped Their Toes Into Bitcoin ETFs, but Q4 Could See a FOMO Spike

"The 13F filings mirror the tepid price action in bitcoin in Q3," said James Van Straten, senior analyst at CoinDesk. "Most institutions are slow to deploy capital and to observe trends, and didn't take the initiative to front-run a historically bullish Q4."

Goldman Sachs reported holding spot bitcoin ETF shares worth $710 million in the quarter that ended Sept. 30, as clients' allocations into the ETFs nearly doubled, up from $418 million in the previous quarter.

Wealth management clients of Wall Street banks like Goldman Sachs, Bank of America and Morgan Stanley in the third quarter continued to modestly accumulate (or trade) bitcoin (BTC) via spot bitcoin exchange-traded funds.

Given the huge spike in crypto prices following last week's U.S. presidential election, it's possible the action will perk up in the fourth quarter.

Read at Coindesk