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JPMorgan also enters the Bitcoin Spot ETFs arena

Sat 11 May 2024 ▪ 3 min of reading ▪ by Fenelon L.
Getting informed Event

The American bank JPMorgan Chase has stated it holds shares in multiple Bitcoin Spot ETFs, including those offered by Grayscale, ProShares, Bitwise, BlackRock, and Fidelity, with a total amount of approximately $760,000.

Bitcoin visible sur le QG de JP Morgan

JPMorgan Reveals Investments in Several Bitcoin Spot ETFs

JPMorgan Chase, the American banking giant with total assets of $2.6 trillion, has disclosed its positions in various Bitcoin Spot ETFs in a document filed on May 10 with the Securities and Exchange Commission (SEC).

The bank indicated it owns shares of the ProShares Bitcoin Strategy ETF (BITO), BlackRock’s iShares Bitcoin Trust (IBIT), Fidelity’s Wise Origin Bitcoin Fund (FBTC), the Grayscale Bitcoin Trust (GBTC), and the Bitwise Bitcoin ETF, with a total combined value of approximately $760,000.

In addition, JPMorgan Chase declared it holds 25,021 shares, valued at about $47,000, in Bitcoin Depot, a cryptocurrency ATM operator. This announcement coincides with that of Wells Fargo, which also revealed its exposure to Grayscale and ProShares ETFs, as well as to Bitcoin Depot.

Financial Institutions Turn Towards Crypto Assets

JPMorgan Chase’s declaration signifies the increasing interest of traditional financial institutions in Bitcoin Spot ETFs. Susquehanna International Group recently announced it has bought over one billion dollars in crypto spot ETF shares in the first quarter of 2024, confirming this trend.

The SEC’s approval for the listing and trading of BTC spot ETFs on US exchanges last January has paved the way for broader adoption of these innovative financial products.

Experts now anticipate a decision from the Commission regarding Ethereum Spot ETFs by May 23, when asset manager VanEck’s application is due.

JPMorgan Chase’s investment in several spot ETFs marks a significant milestone in the growing adoption of crypto assets by traditional financial institutions. As the SEC continues to review Ether Spot ETF applications, it is likely that other major banks and investment companies will follow in JPMorgan Chase’s footsteps in the near future.

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Fenelon L. avatar
Fenelon L.

Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.


The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.