JPMorgan Chase Dives into Crypto ETFs, Holds Over $1M in BTC and ETH

JPMorgan Chase, a financial services behemoth, has disclosed in a recent filing with the U.S. Securities and Exchange Commission (SEC) that it holds over $1 million worth of shares in Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs). The filing reveals that the banking giant currently holds just over $984,000 worth of Bitcoin-based ETFs and $32,300 worth of ETFs based on Ethereum, the second-largest digital asset by market cap.

The data provides insights into the notable ETFs that JPMorgan holds, including more than $523,000 worth of the ProShares Bitcoin ETF (BITO), about $290,000 worth of BlackRock’s iShares Bitcoin Trust ETF (IBIT), $68,000 worth of the Bitwise Bitcoin ETF (BITB), $55,000 worth of Fidelity Wise Origin Bitcoin (FBTC), and $37,000 worth of the Grayscale Bitcoin Trust ETF (GBTC). In terms of Ethereum, JPMorgan holds $23,800 worth of the Grayscale Ethereum Trust ETF (ETHE), $6,200 worth of the iShares Ethereum Trust ETF (ETHA), $2,100 worth of the Fidelity Ethereum Fund (FETH), and $102 worth of the Grayscale Ethereum Mini Trust ETF (ETH).

ETFs centered around the top two crypto assets, which allow investors to gain exposure to BTC and ETH without directly purchasing them, were approved by the SEC in 2024 after years of being denied. This recent filing marks an increase of over $220,000 from the previous disclosure in May 2024, which revealed that JPMorgan held $760,000 worth of spot market BTC ETFs on behalf of its clients.

The growing interest of a major financial institution like JPMorgan Chase in crypto ETFs signals a shift in the perception of digital assets among traditional financial players. As the regulatory landscape continues to evolve, more institutions may follow suit, further integrating cryptocurrencies into their investment portfolios.