Summary
- JPMorgan said it increased its holdings of BlackRock's Bitcoin (BTC) spot ETF, IBIT, by 64%.
- JPMorgan currently holds 5,284,190 shares of IBIT, approximately $343,000,000 in value.
- Market experts analyzed that institutional investors' increased holdings of Bitcoin ETFs indicate a trend of inclusion into mainstream asset classes.
JPMorgan has significantly increased its holdings of BlackRock's Bitcoin (BTC) spot exchange-traded fund (ETF), IBIT.
According to cryptocurrency-focused media Bitcoin Magazine on the 7th (local time), JPMorgan currently holds 5,284,190 shares of IBIT. This amounts to approximately $343,000,000, representing a 64% increase from the previous filing.
IBIT is a BlackRock-managed Bitcoin spot ETF that has become a major product for institutional investors in the U.S. to gain indirect exposure to Bitcoin. JPMorgan's increase in holdings suggests that institutional demand is steadily expanding.
Market experts analyzed, "Traditional financial institutions are gradually increasing their portfolio allocations to crypto ETFs," and "JPMorgan's increased holdings show that the trend of recognizing Bitcoin as a mainstream asset class is strengthening."
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