JPMorgan Chase Bitcoin ETF Investment And Wells Fargo Holds Spot Bitcoin ETF
The filing, submitted on May 10, reveals JPMorgan Chase Bitcoin ETF investments. US banking giant Wells Fargo is now holding a spot Bitcoin ETF on behalf of its clients, according to a new filing with the SEC
JPMorgan Chase Bitcoin ETF Investment Revealed
The filing, submitted on May 10, reveals that JPMorgan Chase Bitcoin ETF investments were provided by industry giants such as Grayscale, ProShares, Bitwise, BlackRock, and Fidelity.
According to the SEC document, JPMorgan’s holdings include ProShares Bitcoin Strategy ETF (BITO), BlackRock’s iShares Bitcoin Trust Fund (IBIT), Fidelity’s Wise Origin Bitcoin Fund (FBTC), shares of Grayscale Bitcoin Trust (GBTC), and shares of Bitwise Bitcoin ETF, totaling approximately $760,000 in value.
While the disclosed amount may seem modest compared to other institutional investments in Bitcoin, it signifies JPMorgan’s entrance into the cryptocurrency market, a move that contradicts CEO Jamie Dimon‘s public skepticism toward Bitcoin.
Moreover, JPMorgan also reported holdings in Bitcoin Depot, a Bitcoin ATM provider valued at approximately $47,000 for 25,021 shares. These disclosures indicate the bank’s growing involvement in the cryptocurrency space.
Wells Fargo Holds Spot ETF
US banking giant Wells Fargo is now holding a spot Bitcoin ETF on behalf of its clients, according to a new filing with the SEC.
The bank’s Form F13 filing, which requires institutional investment managers to disclose their holdings, says Wells Fargo is holding 2,245 shares of the Grayscale Bitcoin Trust (GBTC), which was converted to an ETF in January.
The total value of those shares is $121,207 at time of publishing – a sliver of the firm’s approximately $2 trillion in assets under management.
But the revelation is significant given the resistance that banks have historically shown toward customers who want exposure to the digital asset industry.
