tl;dr
JPMorgan reported a $1 million crypto exposure through ETFs as of Dec. 31, a 69% increase from the previous quarter. The exposure to Bitcoin via ETFs is now worth $964,322, with additional investments in Bitwise and Franklin Templeton. There was a reduction in exposure to Grayscale BTC products. JPM...
JPMorgan has significantly increased its crypto exposure through exchange-traded funds (ETFs), reporting $1 million as of December 31. This marks a substantial 69% growth from the previous quarter's $595,326. The exposure to Bitcoin (BTC) via ETFs now stands at $964,322, indicating a 71% increase from the prior amount.
The traditional financial institution bolstered its holdings with $65,881 worth of Bitwise's BITB shares, 50 shares of Franklin Templeton's EZBC, and a 208% surge in Fidelity's FBTC shares, amounting to $53,719. There was also a reduction in exposure to Grayscale BTC products, with holdings decreasing from 3,695 shares to 492, now valued at $36,418.
JPMorgan's BTC exposure via ETFs is tied to BlackRock's IBIT, which saw an increase to 5,242 shares worth $278,094. Additionally, its exposure via ProShares' Bitcoin futures ETF BITO grew to $527,502 in the latest report despite shedding over 2,000 fund shares. This increase in exposure aligns with BTC's price surge.
Despite the surge in Bitcoin exposure, JPMorgan's Ethereum (ETH) holdings remained relatively stable at $39,569, a 29% increase from the previous quarter's $30,705. JPMorgan holds 300 shares of BlackRock's ETHA, valued at $7,587, and 80 shares of Fidelity's FETH, worth $2,673. Furthermore, JPMorgan reduced its exposure to Grayscale ETH products, holding 1,050 shares worth $29,435 as of December 31, compared to 4,246 shares in the previous quarter.