JPMorgan Chase, the largest bank in the US, has announced that it currently holds approximately $760,000 worth of Bitcoin exchange-traded funds (ETFs) on behalf of its clients. This information was disclosed in a recent filing (Form F13) as part of the bank’s obligation to reveal its holdings as an institutional investment manager.

JPMorgan’s exposure to Bitcoin is spread across various ETFs, including BlackRock’s iShares Bitcoin Trust (IBIT), the ProShares Bitcoin Strategy ETF (BITO), Fidelity’s Wise Origin Bitcoin Fund (FBTC), the Grayscale Bitcoin Trust (GBTC), and the Bitwise Bitcoin ETF.

This revelation comes shortly after Wells Fargo, a rival bank, disclosed its own holdings of 2,245 shares of the Grayscale Bitcoin Trust (GBTC), valued at $121,207 at the time of publishing.

In addition to holding Bitcoin ETFs, JPMorgan is also one of the authorized participants that facilitate the flow of funds in and out of BlackRock’s Bitcoin ETF.

Despite the growing acceptance of Bitcoin on Wall Street, JPMorgan CEO Jamie Dimon remains a vocal critic of the cryptocurrency. Dimon recently referred to Bitcoin as a worthless asset only used by criminals and speculators. When asked if the introduction of the new ETFs had influenced his views, Dimon bluntly stated that he would no longer comment on the matter.

“I don’t care. So, please stop discussing this matter… This will be the last time I express my opinion.”

Stay up to date with the latest news and insights by subscribing to our email alerts.

Disclaimer: The opinions expressed in this article are not investment advice. Investors should conduct thorough research before engaging in high-risk investments involving Bitcoin, cryptocurrencies, or digital assets. Please note that any transfers or trades you undertake are at your own risk, and you are solely responsible for any losses you may incur. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it provide investment advice. Please be aware that The Daily Hodl participates in affiliate marketing.

Image: Midjourney