At this hour, the only news that could revive Bitcoin‘s price would be the Federal Reserve Chairman announcing a 50 basis point rate cut at the first meeting. However, even if it doesn’t affect the price immediately, such news is crucial for long-term outlooks. Recently, important details were published for JPMorgan. But what does this mean?
The World’s Largest Bank and BTC
America’s largest bank, JPMORGAN CHASE & CO, is also the largest in the world by market value. According to a recently published report, the bank holds assets in various Spot Bitcoin ETFs. CEO Jamie Dimon may dislike cryptocurrencies, but his clients do not share his view. We had mentioned that the May 13F filings would help us understand which companies hold BTC ETFs.
While some investment firms hold assets worth hundreds of millions of dollars, JPMorgan holds a more modest amount of ETF assets.
Of course, the most significant holder is BlackRock’s spot Bitcoin ETF, IBIT. Perhaps the trigger for a price increase in Bitcoin could be the revelation in the 13F filings that major companies hold billions of dollars in BTC reserves? Comparisons of volume and transaction numbers often suggest that individual investors dominate the ETF channel, according to experts.
