JPMorgan Discloses Bitcoin ETF Holdings
Alex Dovbnya
The leading US bank has disclosed Bitcoin exchange-traded fund holdings
JPMorgan Chase, the largest US bank, has disclosed Bitcoin exchange-traded fund holdings in a recent filing.
Even though its cumulative Bitcoin ETF holdings are currently limited to a meager $1.2 million, this is yet another sign of growing Bitcoin acceptance.
BlackRock’s Robert Mitchnick recently revealed that major financial institutions, such as pension funds, were preparing to dip their toes into Bitcoin ETFs. Mitchnick dismissed the significance of the recent slowdown in inflows since the financial giant continues to see strong demand for Bitcoin exposure.
As reported by U.Today, Edmond de Rothschild (Suisse) S.A. now also holds $4.2 million worth of shares of Bitcoin ETFs.
Wells Fargo, another major US bank, also disclosed Bitcoin ETF holdings in a regulatory filing earlier today.
Jamie Dimon remains a Bitcoin critic
In the meantime, JPMorgan CEO Jamie Dimon remains a staunch Bitcoin critic. In December, he suggested that the U.S. government should go as far as shutting down the largest cryptocurrency. Recently, he slammed the flagship cryptocurrency as a “Ponzi scheme.”
In 2021, JPMorgan launched a passively managed Bitcoin fund for its wealth clients.
Last year, the mega-bank was named among the authorized participants for BlackRock’s record-shattering Bitcoin ETF.
Another day of outflows
On Thursday, Bitcoin ETFs recorded mixed flows. Grayscale’s GBTC saw substantial outflows of more than $43 million. BlackRock’s relatively modest inflows of $14.2 million did not offset them.
Despite the negative ETF data, Bitcoin still managed to rebound to the $63,000 level before plunging lower.
