JPMorgan has significantly increased its investments in Bitcoin and Ethereum exchange-traded funds (ETFs), according to recent 13F filings. The bank's Bitcoin ETF holdings have reached $984,000, with an additional $32,300 in Ethereum ETFs. This marks a 30% increase in Bitcoin ETF investments within a year. Major holdings include ProShares Bitcoin ETF, BlackRock's iShares Bitcoin Trust ETF, and Bitwise Bitcoin Trust ETF.
Goldman Sachs has also expanded its Bitcoin ETF investments, now holding $1.27 billion in BlackRock iShares Bitcoin ETF and $288 million in Fidelity Bitcoin ETF, marking an 88% increase from the previous quarter. Meanwhile, Abu Dhabi's Mubadala Investment Company has become the seventh-largest shareholder in BlackRock Bitcoin ETF.
The growing institutional interest in Bitcoin ETFs signals an increasing acceptance of Bitcoin as a significant asset. Despite this trend, Norway's Government Pension Fund Global, the world's largest sovereign fund, has not directly invested in Bitcoin but holds stakes in crypto-related companies like MicroStrategy (MSTR) and Coinbase (COIN, Financial).
Last week, digital asset investment products saw a significant outflow of $415 million, primarily from Bitcoin investment products, due to concerns over U.S. monetary policy. This sell-off was reportedly triggered by Federal Reserve Chairman Jerome Powell's cautious stance on interest rate cuts.
