JPMorgan reported a 25% increase in its position in BlackRock’s Bitcoin exchange-traded fund (ETF) and more than quadrupled its position in the iShares Ethereum Trust ETF, according to its latest securities filing with the US Securities and Exchange Commission.
JPMorgan’s position in BlackRock’s iShares Bitcoin Trust ETF rose from 8.3 million shares to about 10.4 million shares, with a reported value of roughly $356 million. The iShares Ethereum Trust ETF (ETHA) saw its position increase from approximately 267,000 shares to around 1.17 million shares. Jonatan Randin commented that “It gives you some idea of what they are doing but not their opinion about the future direction of a specific market.” adding that “From my point of view this adds credibility to the regulatory improvements surrounding XRP.”.
Written by Oliver Grant
Markets Desk
