JPMorgan Chase, a leading financial services titan, has recently disclosed that they are holding over $1 million worth of shares in Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs). This revelation comes from a filing with the U.S. Securities and Exchange Commission (SEC), showcasing the banking giant’s investments in the digital asset space.
The data provided in the filing shows that JPMorgan currently holds just over $984,000 worth of Bitcoin-based ETFs and $32,300 worth of Ethereum-based ETFs. The breakdown of their investments includes holdings in various ETFs such as the ProShares Bitcoin ETF (BITO), BlackRock’s iShares Bitcoin Trust ETF (IBIT), Bitwise Bitcoin ETF (BITB), Fidelity Wise Origin Bitcoin (FBTC), Grayscale Bitcoin Trust ETF (GBTC), Grayscale Ethereum Trust ETF (ETHE), iShares Ethereum Trust ETF (ETHA), Fidelity Ethereum Fund (FETH), and Grayscale Ethereum Mini Trust ETF (ETH).
These ETFs allow investors to gain exposure to Bitcoin and Ethereum without the need to directly purchase the digital assets themselves. The approval of ETFs based on these top two crypto assets by the SEC in 2024 marked a significant milestone after years of rejection.
In addition to their ETF holdings, JPMorgan had previously disclosed holding $760,000 worth of spot market BTC ETFs on behalf of their clients in May 2024, indicating a substantial increase in their crypto-related investments.
As the adoption of digital assets continues to grow in the mainstream financial sector, institutions like JPMorgan are taking steps to explore and invest in the burgeoning cryptocurrency market. Their strategic positioning in Bitcoin and Ethereum ETFs reflects a growing interest in these digital assets as part of their investment portfolio.
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