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Saturday, May 11, 2024

JPMorgan holds Bitcoin ETFs from BlackRock, Bitwise, Fidelity

Despite the presence of Bitcoin ETFs in their 13F fillings, Bloomberg ETF analysts highlighted that those could be tied to market making, and not purely exposure.

JPMorgan holds shares in spot Bitcoin ETFs managed by BlackRock, Bitwise, and Fidelity, as reported by X users Bitcoin Archive ↗ and Phoenix News ↗. According to these reports, the amount is equivalent to over $1 million, and the information was extracted from JPMorgan’s 13F fillings ↗ to the Securities and Exchange Commission (SEC).

Bloomberg ETF analyst James Seyffart explained ↗ in an X post that these 13F fillings are like “snapshots” of institutional long positions on March 31. This means JPMorgan’s exposure to Bitcoin could be even larger, as the 13F also doesn’t consider shorts or derivatives.

Eric Balchunas, Seyffart’s fellow Bloomberg ETF analyst, also shared the amount of holders of each spot Bitcoin ETF traded in the US. He highlights the 250 BlackRock’s IBIT holders, which is a significant result for the first quarter of an ETF available on the market.

What is notable IMO is the sheer number of holders that each has so far.. $IBIT ↗ is up to 250. That’s bonkers for first quarter on mkt. Here’s comparison of the other ETFs launched same week-ish as btc ones. And we still have like a week of 13Fs to roll in yet. pic.twitter.com/mUezW8PDnx ↗

— Eric Balchunas (@EricBalchunas) May 10, 2024 ↗

Moreover, Balchunas answered Bitcoin Archive’s post that the crypto community will probably see more large traditional financial institutions reporting holdings, as they act as market makers for these ETFs. Therefore, not all Bitcoin ETF holdings might be related to exposure but could be tied to market making.

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James Mackreides
James Mackreides
'Mac' is a short tempered former helicopter pilot , now a writer based in Sofia, Bulgaria. Loves dogs, the outdoors and staying far away from the ocean.

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