JPMorgan Chase bank significantly increased its stake in Bitcoin-related exchange-traded funds (ETFs) in the first quarter of this year. According to a 13F filing, the bank increased its position in BlackRock's iShares Bitcoin Trust (IBIT) by 174%, bringing the number of shares from 3 million to 8.3 million. The value of this investment is approximately $162 million. This is reported by Cointelegraph.com .
According to CoinGlass data, despite Bitcoin's price falling by more than 22% in the first quarter, JPMorgan maintained its activity in the crypto-asset market. The bank not only increased its shares in IBIT but also in other spot Bitcoin funds such as Fidelity Wise Origin Bitcoin Fund (FBTC) and Bitwise Bitcoin ETF (BITB) by 450% and 900%, respectively.
Additionally, the bank expanded its position in the ProShares Bitcoin Strategy ETF (BITO) futures fund by over 3,000%, demonstrating its interest in the crypto market. Regarding alternative assets, JPMorgan invested $523,000 in the Bitwise Solana Staking ETF (BSOL) for the first time.
Growth was also observed in Ethereum-related assets. Specifically, the stake in the iShares Ethereum Trust (ETHA) was increased by 36%, and investments in the Bitwise Ethereum ETF (ETHW) were expanded. These moves demonstrate the bank's strategic approach to selected assets against the backdrop of a general decline in the crypto market.
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