News - Big bank JPMorgan owns Bitcoin ETFs

By Mike Hesp

Big bank JPMorgan owns Bitcoin ETFs

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From eternal critic to Bitcoin hodler, JPMorgan recently unveiled an investment in BTC ETFs. And isn't the only one of the big U.S. banks to do so.

Major U.S. bank JPMorgan Chase has issued several Bitcoin ETF's purchased. This is evidenced by documents from the U.S. Securities and Exchange Commission on May 10.

According to the documents, the usually cryptoskeptic bank has Bitcoin ETFs worth approximately $760,000. The shares are distributed among ETFs from ProShares (BITO), BlackRock (IBIT), Fidelity (FBTC), Grayscale (GBTC) and Bitwise (BITB).

In addition, JPMorgan holds $47,000 worth of ETF shares in a Bitcoin ATM operator, the documents show.

JPMorgan Chase is the largest bank in the US. The bank currently has assets worth about US$2.6 trillion. Its CEO, Jamie Dimon, is known in the crypto sector for his recurring criticism of Bitcoin.

Recently, he labeled the number one cryptocurrency a fraud. Now his company holds the assets itself.

However, JPMorgan is not the only institution that recently announced its Bitcoin investment.

In addition to asset manager Susquehanna (USD 1.3 billion), Wells Fargo, the third-largest bank in the US, has also announced that it has Bitcoin in its portfolio, as shown in SEC documents.

This investment ($143,111) is also relatively small. But along with JPMorgan's investment, this is proof that even Bitcoin's supposed worst enemies are keeping an eye on the cryptocurrency.

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