Alex Dovnya
Major US banks reveal their holdings in Bitcoin exchange-traded funds
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JPMorgan Chase, the largest bank in the United States, revealed its holdings in Bitcoin exchange-traded funds in a recent report. filing.
The company's cumulative holdings in Bitcoin ETFs are currently limited to just $1.2 million, another sign of growing acceptance of Bitcoin.
Robert Mitchnick of BlackRock recently revealed that major financial institutions such as pension funds are preparing to enter Bitcoin ETFs in earnest. Mitchnick dismissed the significance of the recent slowdown in inflows, as the financial giant continues to see strong demand for exposure to Bitcoin.
As reported by U.Today, Edmond de Rothschild (Switzerland) SA also currently owns $4.2 million worth of Bitcoin ETF shares.
Another major US bank, Wells Fargo, also disclosed its holdings in a Bitcoin ETF in a regulatory filing earlier today.
Jamie Dimon remains a Bitcoin critic
Meanwhile, JPMorgan CEO Jamie Dimon remains a staunch Bitcoin critic. In December, he suggested the U.S. government should go as far as shutting down the largest cryptocurrency. Recently, he slammed A typical cryptocurrency as a “Ponzi scheme”.
In 2021, JPMorgan launched a passively managed Bitcoin fund for high-net-worth clients.
Last year, the megabank was named an authorized participant in BlackRock's record-breaking Bitcoin ETF.
Another spill day
Bitcoin ETFs posted mixed flows on Thursday. Grayscale's GBTC suffered a massive outflow of over $43 million. BlackRock's inflows were relatively modest at $14.2 million, but they were unable to offset that.
Despite the negative ETF data, Bitcoin was able to recover to the $63,000 level before falling.
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Alex Dovnya
