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.