JPMorgan and Wells Fargo are the latest major global banks to disclose their exposure to Bitcoin through part of the Spot BTC exchange-traded fund launched in January.
The two lenders filed 13F disclosures on May 10th, disclosing small investments in Bitcoin ETFs.
JPMorgan disclosed $731,246 in spot Bitcoin ETF investments in BlackRock's IBIT, Bitwise's BITB, Fidelity's FBTC, and Grayscale's GBTC. Most of the amount ($477,425) he invested in IBIT. Meanwhile, Wells Fargo reported a $141,817 investment in Grayscale's GBTC in the first quarter.
Previous disclosures revealed that both BNP Paribas and BNY Mellon also have significant investments in Bitcoin ETFs, and although their exposures are modest, they have This suggests that there is an increasing trend.
Additionally, other major banks, including Morgan Stanley and UBS, have also indicated their intention to allow their customers to invest in spot Bitcoin ETFs. However, as of this writing, the two lenders have yet to reveal their direct exposure to Bitcoin.
Industry experts, including BlackRock's head of digital assets, say the trend of institutional inflows into Bitcoin ETFs is only just beginning, as more sophisticated funds such as sovereign wealth funds begin to enter Bitcoin ETFs. We believe that the amount is expected to increase.
Black Rock 13F
BlackRock disclosed a $6.6 million investment in its IBIT fund in its May 10th 13F filing.
The company's strategy is patterned after other spot Bitcoin ETF issuers that also invest in their own funds. Ark Invest holds $206.4 million in the ARKB fund and Van Eck holds $98,000 in the HODL fund.
BlackRock's latest investment comes alongside the solid performance of BlackRock's IBIT. This fund has the highest cumulative inflows of any Spot Bitcoin ETF in $.15,490, it is the second largest spot Bitcoin ETF in terms of assets under management.
BlackRock's IBIT also set a new record with $10 billion in assets under management. Commenting on this trend, Bloomberg ETF analyst Eric Balchunas noted:
“handJEPQ's ETF assets reach $10 billion in record time Who did it in 647 business days? …
TradFi enters Bitcoin
Chicago-based hedge fund CTC Alternative Strategies reported a $27.7 million investment in IBIT on May 9.
Other financial institutions and companies that have recently disclosed investments in Spot Bitcoin ETFs include Hightower Advisors, US Bancorp, Southstate, Susquehanna International Group, Burkett Financial Services, and Legacy Wealth Asset Management. There is.
The companies listed above are just a few of the hundreds of others that have made similar disclosures in their 13F filings since the Spot Bitcoin ETF launched in January.
According to Fintel data, over 240 companies have invested in IBIT and over 130 companies have invested in FBTC. More than 467 companies have invested in Grayscale's GBTC, which existed before it was converted into an ETF in January.
