Spain’s largest bank, Banco Santander, has revealed a $4.3 million investment in Bitcoin. 

According to a Securities and Exchange Commission , the Madrid-based bank bought the exposure via BlackRock’s iShares Bitcoin Trust — a total of 129,615 shares. 

The filing is the latest example of a traditional institution seeking exposure to the biggest cryptocurrency by market cap. 

JUST IN: Spain's largest bank, Banco Santander, reports owning $4.3 million in spot Bitcoin ETFs

— Bitcoin Magazine (@BitcoinMagazine)

Over the past year, Santander’s digital bank, Openbank, has allowed customers to buy Bitcoin and other cryptocurrencies and began a more friendly approach to marketing digital assets to customers. 

allows investors to buy exposure to Bitcoin without having to own and store the digital coin directly. 

The shares trade on a stock exchange and can be bought quickly and easily via a brokerage account. 

BlackRock’s IBIT is the most successful crypto ETF: The fund has received more inflows than any other crypto ETF, currently holding $46.9 billion in assets under management, according to its website. 

Other major institutions have bought exposure to Bitcoin via the ETFs after their 2024 approval. A large number of investors were previously put off by having to deal with things like storage and private keys but once the SEC approved a slew of ETFs in 2024, new capital entered the space. 

The crypto ETF market is already a crowded one, with popular products by top asset managers BlackRock, Fidelity, and bank Morgan Stanley already on the market.

U.S. Bitcoin funds currently manage over $83 billion in assets, according to CoinGlass data. 

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