Jpmorgan Announced The Asset Status Of The Bitcoin Etf.

The largest bank in the United States, JPMorgan, with $2.6 trillion in assets under management, has reported to the SEC that it has sold approximately $760,000 worth of shares from Bitcoin ETFs.

U.S.-based financial giant JPMorgan Chase has announced its investment in Bitcoin exchange-traded funds (ETFs) issued by Grayscale, ProShares, Bitwise, BlackRock, and Fidelity.

In a document submitted to the U.S. Securities and Exchange Commission (SEC) on May 10, JPMorgan Chase reported owning approximately $760,000 worth of shares in ProShares Bitcoin Strategy ETF (BITO), BlackRock’s iShares Bitcoin Trust (IBIT), Fidelity’s Wise Origin Bitcoin Fund (FBTC), Grayscale Bitcoin Trust (GBTC), and Bitwise Bitcoin ETF. Additionally, the bank disclosed the purchase of about 25,021 shares worth approximately $47,000 in Bitcoin Depot, a crypto ATM provider.

This announcement coincided with the day Wells Fargo revealed its investment in Grayscale and ProShares Bitcoin ETFs as well as Bitcoin Depot. Susquehanna International Group also reported on May 7 that it had purchased over $1 billion in shares from spot crypto ETFs for the first quarter of 2024.

JPMorgan Chase stands out as the largest bank in the U.S., managing approximately $2.6 trillion in assets. The SEC has cautioned that the information submitted to it should not be assumed to be "accurate and complete."

In January, the SEC approved the listing and trading of spot Bitcoin ETFs on U.S. exchanges. Many experts are now awaiting the agency’s decision on the application for spot Ether (ETH) exchange-traded funds by asset manager VanEck, due by May 23.

Stay updated with the latest developments and news in the crypto markets with Kriptospot.com.