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Bitcoin ETF

Bitcoin

JPMorgan Chase &amp; Co., the largest bank in the United States, has publicly disclosed its considerable holdings in various <a href="https://coingape.com/hong-kong-bitcoin-etfs-accumulate-258m-btc-in-debut-week/">Bitcoin exchange-traded funds</a> (ETFs). This move underscores the bank’s deepening involvement in the cryptocurrency market and reflects a broader trend of institutional investment in digital assets. 
The disclosure, part of the bank’s recent regulatory filings, offers a detailed look at its diverse cryptocurrency portfolio. It includes multiple Bitcoin ETFs, indicating a strategic approach to digital asset investment that leverages diversified exposures to mitigate risk amid volatile market conditions. 
<h2 id="strong-jpmorgan-holds-varied-bitcoin-etf-portfolio-strong">JPMorgan Holds Varied Bitcoin ETF Portfolio</h2> 
The bank’s holdings span several ETFs, highlighting its comprehensive investment strategy in the sector. Among its disclosed assets, JPMorgan holds 25,021 shares of Bitcoin Depot Inc., valued at $47,415. This investment is part of a broader array of ETFs that JPMorgan has incorporated into its portfolio. 
Further reflecting its investment strategy, the bank owns 6,475 shares in the <a href="https://coingape.com/bitwise-bitcoin-etf-bitb-outshines-others-with-11m-inflows-whats-next/">Bitwise Bitcoin ETF</a>, which has a market value of $250,647. Smaller stakes include 55 shares in the Bitcoin Strategy ETF, valued at $2,129, and 16 shares in the Fidelity Wise Origin Bitcoin ETF, valued at $1,043. Additionally, JPMorgan has invested in 40 shares of the Grayscale Bitcoin Trust, albeit at a notably low valuation of just $2. 
<h2 id="strong-bitcoin-price-drop-amid-market-liquidations-strong">Bitcoin Price Drop Amid Market Liquidations</h2> 
Despite JPMorgan’s significant disclosures, the overall cryptocurrency market responded with a downturn, as <a href="https://coingape.com/price/bitcoin/#:~:text=Live%20Price%20of%20Bitcoin%20(BTC,market%20cap%20stands%20at%20%241%2C227%2C439%2C255%2C710.">Bitcoin price</a> fell by 3.25%. The decline in open interest by 3.91%, amounting to a reduction of $647 million, coupled with liquidations totaling $167 million over the past 24 hours, indicates a market that has not fully deleveraged.&nbsp; 
Moreover, the iShares Bitcoin Trust sees JPMorgan holding 11,000 shares worth $445,170 and an additional 797 shares valued at $32,255. The ProShares Bitcoin Strategy ETF also forms part of this diverse portfolio, with the bank holding 14 shares valued at $452 and 831 shares worth $26,841.&nbsp; 
JPMorgan disclosed its investments in a Bitcoin ETF, following a similar announcement by Wells Fargo earlier today, as reported by Coingape. Despite this, JPMorgan’s CEO,<a href="https://coingape.com/jpmorgan-ceo-jamie-dimon-labels-bitcoin-as-fraud-and-hopeless-currency/"> Jamie Dimon</a>, continues to express severe skepticism about Bitcoin. Dimon proposed that the U.S. government should consider banning prominent digital currency, and he recently described Bitcoin as a “Ponzi scheme.” In contrast to his critical views, JPMorgan introduced a Bitcoin fund for its wealth management clients in 2021. 
Moreover, last year, JPMorgan was listed as one of the approved participants for BlackRock’s highly successful Bitcoin ETF, marking a significant endorsement of the cryptocurrency’s investment potential. 
Read Also:<a href="https://coingape.com/top-10-holders-of-blackrock-spot-bitcoin-etf-ibit/"> Top 10 Holders of BlackRock Spot Bitcoin ETF (IBIT)</a> 
The post <a href="https://coingape.com/breaking-jpmorgan-chase-reveals-its-bitcoin-etf-holdings/">Breaking: JPMorgan Chase Reveals its Bitcoin ETF Holdings</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Breaking: JPMorgan Chase Reveals its Bitcoin ETF Holdings

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