JPMorgan Chase Discloses Extensive Investments in Bitcoin Exchange-Traded Funds
Summary:
JPMorgan Chase, a leading U.S. financial corporation, has disclosed its investments in several Bitcoin Exchange-traded funds operated by Grayscale, ProShares, Bitwise, BlackRock, and Fidelity. The bank owns approximately $760,000 worth of shares across these funds, and also has a stake in Bitcoin Depot, a crypto ATM provider. The Securities and Exchange Commission has urged caution in interpreting the bank's disclosed information. This news coincides with the anticipation of the commission's decision regarding proposed spot Ether ETFs.
The leading American financial corporation, JPMorgan Chase, has revealed investments in Bitcoin (BTC) exchange-traded funds (ETFs) operated by multiple finance companies; these include Grayscale, ProShares, Bitwise, BlackRock, and Fidelity. According to a document lodged with the U.S. Securities and Exchange Commission (SEC) on May 10, JPMorgan Chase stated that it owns approximately $760,000 in shares across several Bitcoin Strategy ETFs such as the ProShares (BITO), BlackRock's iShares Bitcoin Trust (IBIT), Fidelity’s Wise Origin Bitcoin Fund (FBTC), Grayscale Bitcoin Trust (GBTC), and the Bitwise Bitcoin ETF. Furthermore, the bank also announced a stake of about 25,021 shares, totaling nearly $47,000, invested in Bitcoin Depot, a prominent crypto ATM supplier. The SEC document was submitted on the same date that Wells Fargo divulged its stakes in Grayscale, ProShares' Bitcoin ETFs, and Bitcoin Depot. Meanwhile, Susquehanna International Group declared on May 7 that it bought over $1 billion worth of shares in spot crypto ETFs in the first quarter of 2024. It is pertinent to mention that JPMorgan Chase is the most significant bank in the U.S. holding approximately $2.6 trillion in assets. However, the SEC cautioned that any information presented by the financial organization should not be assumed as “precise and comprehensive.” Notably, the SEC consented to the listing and trading of spot Bitcoin ETFs on U.S. trading platforms in January. Several market analysts anticipate the commission's verdict on proposed spot Ether (ETH) ETFs by May 23, as asset manager VanEck's application nears its conclusive deadline.
Published At
5/11/2024 12:47:26 AM
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