In a recent filing to the United States Securities and Exchange Commission (SEC), top financial institution JPMorgan Chase has revealed its Bitcoin ETF holdings. A snapshot of JPMorgan’s holdings shows it holds shares from top issuers including BlackRock, Fidelity, Grayscale, and Bitwise.
JPMorgan’s Bitcoin ETF Holdings Rank Low
Altogether, JPMorgan’s cumulative Bitcoin ETF holdings are currently limited to a meager $1.2 million.
The firm’s individual ETF holding appears smaller compared to its counterparts that have invested huge funds into Bitcoin. Senior Bloomberg ETF analyst James Seyffart explained JPMorgan’s minimized exposure to the new offering that was greenlighted by the U.S. SEC four months ago.
“JPM, Susquehanna (which also owns these ETFs and was all over this site last week) and others are just market makers and/or APs. Their ownership isn’t necessarily indicative of anything other than this is how many shares they had on 3/31/24,” Seyffart said in his X post
“If you’re making markets in these things, the number of shares held could swing heavily day to day. The 13F data is simply a snapshot of *LONG* positions held on 3/31 13F’s don’t show shorts OR derivatives. So we don’t even have a full look at their true exposure on 3/31.”
Noteworthy, Susquehanna recently invested $1 billion in shares of major spot Bitcoin ETF issuers.
Bitcoin Adoption Grows Amongst Tradfi Players
Despite the size, JPMorgan’s Bitcoin ETF holdings are also an indication of the growing adoption of BTC, especially amongst traditional financial institutions.
According to BlackRock’s Robert Mitchnick, many other organizations plan to enter the growing ecosystem in the coming months. Once again, this suggests that investors are not disturbed by the present condition of the ETF market.
Quite a number of the ETFs have registered significant outflows in the last few weeks. Generally, Grayscale is leading the outflows with more than $11 billion in records so far.