Coinspeaker
18 hour ago
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JPMorgan Boosts Bitcoin ETF Holdings to $343M with 64% Increase

JPMorgan Chase Expands Bitcoin ETF Holdings

  • JPMorgan Chase increased its holdings in Blackrock's iShares Bitcoin Trust (IBIT) by 64%, now possessing 5.28 million shares.
  • The value of these shares is $343 million as of September 30, according to the latest SEC filing.
  • Additionally, JPMorgan reported IBIT call options valued at $68 million and put options valued at $133 million.

Institutional Interest in Bitcoin ETFs

  • Spot Bitcoin ETFs, like IBIT, are considered a key entry point for institutional investors due to direct asset purchasing without custody requirements.
  • Despite previous skepticism, JPMorgan has shown increasing interest in Bitcoin through its ETF investments.

Market Conditions

  • Bitcoin ETFs recently ended a six-day outflow streak, suggesting potential market recovery.
  • Despite a 16% decline, Bitcoin remained above the $100,000 support level, trading at $101,322.88.

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