The National Bank of Canada has become the latest traditional financial institution to publicly disclose its exposure to digital assets through regulated exchange-traded funds. In a 13F filing submitted to the U.S. Securities and Exchange Commission (SEC), the bank revealed a portfolio of five cryptocurrency ETFs valued at approximately $6.98 million.
According to the filing, the largest position is in the ProShares Bitcoin ETF with 42,321 shares worth around $5.31 million. The bank also holds 55,644 shares of the Fidelity Wise Origin Bitcoin Fund, valued at $1.09 million, as well as smaller stakes in Grayscale’s Bitcoin products: 6,831 shares of the Grayscale Bitcoin Trust ETF (~$150,000) and 2,596 shares of the Grayscale Bitcoin Mini Trust ETF (~$100,000).
Notably, the disclosure includes an altcoin position: 3,848 shares of the Bitwise XRP ETF worth approximately $330,000. This marks a rare instance of a major North American bank reporting exposure to XRP through a regulated investment vehicle. The Bitwise XRP ETF is one of the first U.S.-listed funds tracking the price of the XRP token.
The filing underscores how large banks are gaining exposure to crypto via SEC-registered ETFs rather than taking direct custody of tokens. These products allow institutions to hold digital-asset investments within existing securities frameworks, fitting the broader trend of traditional finance moving toward regulated on-ramps. While the total value of the holdings is modest relative to the bank’s overall assets, the disclosure adds to mounting evidence of mainstream institutional adoption of cryptocurrency as an asset class.
