$57 billion Spanish banking giant Santander educates investors on Bitcoin

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Although Santander Bank was a little skeptical of the cryptocurrency sector in 2022, leading it to limit Bitcoin (BTC) payments, the Spanish banking giant seems to have changed its tone drastically, coinciding with a wave of applications for a cash bitcoin exchange-traded fund. (ETF) by major financial and asset management institutions.

As it happens, Santander recently launched a Digital Assets 101 educational series on its website, breaking down the fundamentals, benefits and implications of this transformative technology, the company said on its Twitter profile when presenting its first lesson. on Bitcoin on June 9.

Curious about the revolutionary phenomenon of #Bitcoin?

We dig deeper into this world in our #DigitalAssets101 series, breaking down the fundamentals, benefits and implications of this transformative technology.

— Santander (@bancosantander) June 9, 2023

Seven days after the introductory lesson titled Everything You Need to Know About Bitcoin, the bank shared another lecture, this time focusing on all the pros and cons of the Bitcoins Lightning Network protocol, for which it said that ‘it enables high volumes of instant micropayments, supporting millions of transactions per second.

Increased institutional interest

Interestingly, this change of pace comes around the same time that several large mainstream institutions began to recognize the opportunities presented by the cryptocurrency space, jumping on the bitcoin ETF bandwagon as a way to offer their clients access to crypto assets without direct exposure.

Specifically, companies that have recently filed or re-applyed for a spot Bitcoin ETF include the world’s largest asset manager BlackRock (NYSE:BLK), digital asset management firm Valkyrie, management company independent investment company Invesco (NYSE: IVZ), global ETF and WisdomTree, sponsor of exchange-traded products (ETPs), as well as Bitwise, manager of crypto index funds.

Meanwhile, Bitcoin was changing hands at press time at a price of $30,197, showing an increase of 4.39% on the day, a gain of 21.25% on the previous week and a growth of 10.64. % on its monthly chart, as it represents a lead of more than 80% since the turn of the years, according to the most recent data retrieved by Finbold on June 22.

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