JPMorgan increases crypto holdings via ETFs, but stays cautious at $1 million

Share This Post

In its recent 13F form, JPMorgan reported $1 million in crypto exposure through exchange-traded funds (ETF) as of Dec. 31.

This is nearly 69% more than the $595,326 it reported at th end of the third quarter of 2024.

According to the filing with the US Securities and Exchange Commission (SEC), JPMorgan’s exposure to Bitcoin (BTC) via ETFs is worth $964,322, nearly 71% larger than the $595,326 amount previously reported. 

The traditional financial institution added $65,881 worth of Bitwise’s BITB shares to its holdings and 50 shares of Franklin Templeton’s EZBC worth less than $3,000.

Meanwhile, JPMorgan increased the number of Fidelity’s FBTC shares by 208% to 658, worth $53,719.

Additionally, the report revealed a reduction in exposure to Grayscale BTC products. JPMorgan cut the 3,695 shares it held from Grayscale’s GBTC and mini trust to 492, which are now worth $36,418.

The increase in JPMorgan’s BTC exposure via ETFs is related to BlackRock’s IBIT. The report showed 5,242 shares of IBIT, now worth $278,094, up from 387.

JPMorgan’s exposure via ProShares’ Bitcoin futures ETF BITO grew to $527,502 in the latest 13F form despite shedding over 2,000 fund shares. The increase in the dollar-denominated exposure is related to BTC’s price increase.

ETH exposure remains the same

Despite the increase in Bitcoin exposure, JPMorgan holds just $39,569 worth of Ethereum (ETH) ETF shares. This is 29% larger than the $30,705 held as of Sept. 30.

The financial institution now holds 300 shares of BlackRock’s ETHA, worth $7,587, and 80 shares of Fidelity’s FETH, worth $2,673.

Furthermore, JPMorgan also toned down its exposure to Grayscale ETH products, reducing its holdings from 4,246 shares to 1,050 shares between quarters. As of Dec. 31, the total held was worth $29,435.

The post JPMorgan increases crypto holdings via ETFs, but stays cautious at $1 million appeared first on CryptoSlate.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

XRP Price Prediction: XRP Eyes $15 Target in 2025 Amid Regulatory Wins and Increased Institutional Interest

The post XRP Price Prediction: XRP Eyes $15 Target in 2025 Amid Regulatory Wins and Increased Institutional Interest appeared first on Coinpedia Fintech News XRP is kicking off the year strong, with

Bitcoin Price Analysis: Will BTC Break $97K Resistance or Plunge to $70K?

The post Bitcoin Price Analysis: Will BTC Break $97K Resistance or Plunge to $70K appeared first on Coinpedia Fintech News In the initial days of this month, the Bitcoin market suffered a serious

Avalon Labs Explores First Bitcoin-Backed Public Debt Fund

Avalon Labs is evaluating the launch of a bitcoin-backed public debt fund, exploring its alignment with SEC Regulation A US SEC Framework Could Provide Structure for Bitcoin-Backed Debt Fund Avalon

Bitcoin Slides To $94,000 After CPI Surprise – Will The Downtrend Continue?

Bitcoin (BTC) reacted sharply to today’s hotter-than-expected US Consumer Price Index (CPI) report, dropping from around $96,600 to as low as $94,088 Notably, BTC was already trending downward due

Metaplanet Bitcoin Investment Secures ¥4 Billion in Zero-Interest Bonds

The post Metaplanet Bitcoin Investment Secures ¥4 Billion in Zero-Interest Bonds appeared first on Coinpedia Fintech News Metaplanet, a Japan-listed company, has raised ¥4 billion ($2632 million)

Coinbase Plans Return to India After a Year-Long Pause

The post Coinbase Plans Return to India After a Year-Long Pause appeared first on Coinpedia Fintech News Coinbase, a major US crypto exchange, is working towards re-entering the Indian market after