The largest bank in the US, JPMorgan Chase, says it now holds about $760,000 worth of spot Bitcoin ETFs on behalf of its clients.
In a new Form F13 filing, which requires institutional investment managers to disclose their holdings, JPMorgan says its exposure is spread across BlackRock’s iShares Bitcoin Trust (IBIT), the ProShares Bitcoin Strategy ETF (BITO), Fidelity’s Wise Origin Bitcoin Fund ( FBTC), the Grayscale Bitcoin Trust (GBTC) and the Bitwise Bitcoin ETF.
The disclosure follows a similar filing from rival Wells Fargo, which said it owns 2,245 shares of the Grayscale Bitcoin Trust (GBTC) worth $121,207 at the time of publication.
JPMorgan is also one of the authorized participants powering BlackRock’s Bitcoin ETF, facilitating flows into and out of the fund.
Despite Bitcoin’s sudden adoption on Wall Street, Jamie Dimon, CEO of JPMorgan, remains one of the loudest critics against BTC.
Dimon recently called Bitcoin is a pet used only by criminals and speculators. When asked if the new ETFs changed his thinking, Dimon told CNBC that this was the last time he would comment on the leading crypto asset.
‘I do not mind. So please stop talking about this nonsense… This is the last time I’m ever going to speak my mind.”
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