JPMorgan reports holding shares of several spot Bitcoin ETFs

Turner Wright2 hours agoJPMorgan reports holding shares of several spot Bitcoin ETFsThe largest bank in the U.S. with $2.6 trillion in assets reported to the SEC that it had purchased roughly $760,000 worth of shares of Bitcoin ETFs.1107 Total views1 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksUnited States-based financial company JPMorgan Chase has disclosed investments in Bitcoin (BTC) exchange-traded funds offered by Grayscale, ProShares, Bitwise, BlackRock and Fidelity.

In a May 10 filing with the U.S. Securities and Exchange Commission (SEC), JPMorgan Chase reported it held roughly $760,000 worth of shares of the ProShares Bitcoin Strategy ETF (BITO), BlackRock"s iShares Bitcoin Trust (IBIT), Fidelity’s Wise Origin Bitcoin Fund (FBTC), Grayscale Bitcoin Trust (GBTC) and the Bitwise Bitcoin ETF. In addition, the bank reported 25,021 shares worth roughly $47,000 in Bitcoin Depot, a crypto ATM provider.

The SEC filing came the same day as Wells Fargo reported exposure to Grayscale and ProShares Bitcoin ETFs in its holdings and Bitcoin Depot. Susquehanna International Group reported on May 7 that it purchased more than $1 billion worth of shares of the spot crypto ETFs in the first quarter of 2024.

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JPMorgan Chase is the largest bank in the U.S. by assets, controlling roughly $2.6 trillion. The SEC added that observers should not assume that the information provided by the financial firm was “accurate and complete.”

The SEC approved the listing and trading of spot Bitcoin ETFs on U.S. exchanges in January. Many experts expect the commission to decide on spot Ether (ETH) exchange-traded funds by May 23, when an application from asset manager VanEck reaches its final deadline.

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