Major US banks such as JPMorgan and Wells Fargo have disclosed investments in Bitcoin ETFs to the SEC, marking a significant shift towards cryptocurrency engagement.

JPMorgan Chase has expanded its crypto-related investments to include not just ETFs, but also stakes in crypto ATMs, indicating a broader institutional embrace of digital assets.

The SEC's earlier approval for the trading of spot Bitcoin ETFs on U.S. exchanges has catalyzed the trend of increasing institutional investments in cryptocurrency vehicles.

Institutions' total holdings in Bitcoin ETFs have surpassed $1.8 billion, showcasing growing confidence in Bitcoin and its investment products among traditional investors.

Despite the institutional interest, the price of Bitcoin has been on a decline since its April halving event, trading around $60,494, with speculation about it nearing a bottom.

The SEC advises caution in interpreting investment disclosures, while the Biden administration's stance against easing cryptocurrency regulations adds to the market's uncertainty.

Predictions suggest more financial services companies will invest in cryptocurrencies, as indicated by Bloomberg senior analyst Eric Balchunas, pointing to a trend of mainstream acceptance.

A pending SEC decision on an application for spot Ether ETFs by asset manager VanEck by May 23, may further broaden institutional investment opportunities in the crypto space.