Recently uncovered SEC filings reveal that JPMorgan and Wells Fargo are holders of physical Bitcoin ETFs, showcasing the growing integration of cryptocurrencies within major U.S. financial institutions.
This move indicates a broader acceptance and recognition of cryptocurrencies as a viable component of investment portfolios, paving the way for further institutional engagement in the crypto market.
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JPMorgan and Wells Fargo's Involvement with Physical Bitcoin ETFs
U.S. financial giants "JP Morgan Chase" and "Wells Fargo" have been identified as holding physical bitcoin ETFs.
JP Morgan Chase is the largest major bank in the U.S., managing approximately $2.6 trillion, and Wells Fargo is the third largest U.S. bank, managing assets worth approximately $1.7 trillion as of June 2023.
According to documents filed with the U.S. Securities and Exchange Commission (SEC), JP Morgan Chase and Wells Fargo reportedly own several virtual currency-related stocks, specifically
JPMorgan Chase Holdings
| Description | Quantity Held |
|---|---|
| BITCOIN DEPOT (Cryptocurrency ATM company) | 25,021 shares (DFND) |
| Bitwise Bitcoin ETF (BITB) | 6,475 shares (DFND) |
| Bitwise Bitcoin ETF (BITB) | 55 shares (SOLE) |
| Fidelity Wise Origin Bitcoin (FBTC) | 16 shares (SOLE) |
| Grayscale Bitcoin Trust (GBTC) | 40 shares (SOLE) |
| iShares Bitcoin Trust (IBIT) | 11,000 shares (SOLE) |
| iShares Bitcoin Trust (IBIT) | 797 shares (SOLE) |
| ProShares Bitcoin Strategy ETF (BITO) | 14 shares (DFND) |
| ProShares Bitcoin Strategy ETF (BITO) | 831 shares (SOLE) |
>> SEC Filings
Wells Fargo Holdings
| Description | Quantity Held |
|---|---|
| BITCOIN DEPOT (Cryptocurrency ATM company) | 52 shares (DFND) |
| ProShares Bitcoin Strategy ETF (BITO) | 37 shares (DFND) |
| Grayscale Bitcoin Trust (GBTC) | 2,245 shares (DFND) |
>> SEC Filings
Susquehanna's Bitcoin ETF Holdings
Additionally, on the 7th of this month, Susquehanna International Group, a major U.S. investment and trading company, was reported to hold $1 billion worth of GBTC.
Beyond GBTC, the company has significant holdings in other cryptocurrency assets, reportedly holding 17,271,326 shares of GBTC, 1,349,414 shares of FBTC, and 7,907,827 shares of BITO.
The holding of physical Bitcoin ETFs by these financial giants is anticipated to bolster further adoption and integration of cryptocurrency in mainstream investment portfolios.
Recently, BlackRock, the world's largest asset manager, also predicted an increase in governmental and pension funds entering the Bitcoin ETF market.
>> Click here for the latest ETF-related news.
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BlackRock Anticipates Government Funds and Pension Funds Entering Bitcoin ETF Market
Explore how BlackRock predicts government and pension funds will boost the Bitcoin ETF market, potentially leading to a rejuvenated cryptocurrency market. Engage with insights on institutional interest and the evolving role of major asset managers like BlackRock in digital assets.
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