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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 Bitcoin ETF ticker tape.

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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.

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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