Largest bank in the U.S. reveals nearly $1 million holdings in spot Bitcoin ETFs.

JPMorgan Chase, one of the largest financial institutions in the world, has significantly increased its exposure to Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs), according to its latest 13F filing with the U.S. Securities and Exchange Commission (SEC).

The firm has allocated $984,000 in Bitcoin ETFs and $32,300 in Ethereum ETFs across multiple funds.

Among its Bitcoin ETF investments, JPMorgan has invested $523,000 in the ProShares Bitcoin ETF (BITO), $290,000 in BlackRock’s iShares Bitcoin Trust ETF (IBIT), $68,000 in the Bitwise Bitcoin ETF (BITB), $55,000 in Fidelity Wise Origin Bitcoin ETF (FBTC), and $37,000 in the Grayscale Bitcoin Trust ETF (GBTC).

For Ethereum spot ETFs, the bank holds $23,800 in the Grayscale Ethereum Trust ETF (ETHE), $6,200 in the iShares Ethereum Trust ETF (ETHA), $2,100 in the Fidelity Ethereum Fund (FETH), and $102 in the Grayscale Ethereum Mini Trust ETF (ETH).

This marks a notable increase of 30% from May 2024, when JPMorgan disclosed $760,000 in Bitcoin ETFs, reflecting an increase of over $220,000 in just a few months.

JPMorgan’s crypto ETF expansion is part of a broader institutional adoption trend, with Goldman Sachs also significantly increasing its exposure to Bitcoin ETFs. According to its latest SEC filing, the investment bank now holds $1.27 billion in BlackRock’s iShares Bitcoin Trust ETF (IBIT), amounting to 24,077,861 shares.

Additionally, Goldman Sachs disclosed a $288 million stake in Fidelity Wise Origin Bitcoin ETF (FBTC), holding 3,530,486 shares.

This represents a massive increase compared to the previous quarter, with Goldman Sachs’ Bitcoin ETF holdings surging by 88%, while its FBTC stake jumped 105%.

Source: FINANCE.YAHOO