The biggest bank in the US, JPMorgan Chase, says it now holds about $760,000 in 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 the 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.
[adinserter block="1"]The revelation follows a similar filing from rival Wells Fargo, which says it holds 2,245 shares of the Grayscale Bitcoin Trust (GBTC) worth $121,207 at time of publishing.
JPMorgan is also one of the authorized participants powering BlackRock’s Bitcoin ETF, facilitating flows in and out of the fund.
Despite Bitcoin’s sudden adoption on Wall Street, JPMorgan CEO Jamie Dimon continues to be one of the loudest critics against BTC.
Dimon recently called Bitcoin a pet rock used only by criminals and speculators. When asked if the new ETFs changed his thinking, Dimon told CNBC it was the last time he would comment on the leading crypto asset.
“I don’t care. So just please stop talking about this shit… This is the last time I’m ever going to state my opinion.”
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