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From Wall Street to Crypto: JPMorgan Reveals Investments in Bitcoin ETFs

Key Takeaways

  • JPMorgan Chase disclosed adding five Bitcoin ETFs with a total value of about $760,000 into its investment portfolio;
  • The bank also acquired 25,021 shares in Bitcoin Depot, a provider of crypto ATMs;
  • The SEC cautions that details in the filing may not be fully verified.
From Wall Street to Crypto: JPMorgan Reveals Investments in Bitcoin ETFs

JPMorgan Chase, the largest asset-holding bank in the United States, has recently expanded its crypto portfolio, according to a Securities and Exchange Commission (SEC) filing.

The bank has invested in five Bitcoin exchange-traded funds (ETFs) for a total of approximately $760,000.

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These funds include BlackRock's iShares Bitcoin Trust (IBIT), Fidelity's Wise Origin Bitcoin Fund (FBTC), Grayscale Bitcoin Trust (GBTC), Bitwise Bitcoin ETF (BITB), and ProShares Bitcoin Strategy ETF (BITO).

Additionally, the bank has invested in Bitcoin Depot, a provider of cryptocurrency ATMs, acquiring about 25,021 shares valued at roughly $47,000.

However, the SEC adds that the information provided in the filing may not be accurate:

<The SEC> has not necessarily reviewed the information and has not determined if it is accurate and complete. The reader should not assume that the information is accurate and complete.

Such investments suggest a shift in how financial services engage with digital assets, paving the way for further transformations in the sector.

That being said, recent statements by JPMorgan's CEO Jamie Dimon demonstrate a skeptical view toward crypto, as he called Bitcoin a "fraud" and a "Ponzi scheme."

Meanwhile, having approved the listing and trading of spot Bitcoin ETFs on US exchanges earlier this year, the SEC is currently reviewing applications for spot Ether ETFs. A decision on investment firm VanEck's application is expected by May 23.

Aaron S., Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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