Key Points
- Bitcoin ETFs recorded a total net outflow of over $84.6 million yesterday, May 10.
- JPMorgan discloses shares of several Bitcoin ETFs.
Bitcoin’s price dropped in the US morning hours on Friday to about $60,300, before a quick rebound.
At the moment of writing this article, BTC is trading around the $61k mark, down by over 3%, according to data from CoinMarketCap.
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According to the latest reports coming from SoSoValue, Bitcoin ETFs saw a total net outflow of over $84.6 million the other day.
Grayscale‘s Bitcoin ETF GBTC saw a total net outflow of $103 million.
BlackRock’s Bitcoin ETF IBIT recorded an inflow of $12.4 million, and Fidelity’s Bitcoin ETF FBTC saw an inflow of $5.3 million.
Meanwhile, JPMorgan, the largest bank in the US with approximately $2.6 trillion in assets, reported to the SEC that it holds shares of several Bitcoin ETFs.
JPMorgan holds $760k shares of BTC ETFs
JPMorgan disclosed investments in Bitcoin ETFs offered by Grayscale, ProShares, Bitwise, BlackRock, and Fidelity.
In a May filing with the SEC, JPMorgan revealed that it held about $760k worth of shares of the following ETFs: ProShares Bitcoin Strategy ETF (BITO), BlackRock’s iShares Bitcoin Trust (IBIT), Fidelity’s Wise Origin Bitcoin Fund (FBTC), Grayscale Bitcoin Trust (GBTC) and the Bitwise Bitcoin ETF (BITB).
Also, according to the reports, the bank has 25,021 shares in Bitcoin Depot, a crypto ATM provider.
JPMorgan is the largest US bank by assets, and it controls about $2.6 trillion. The SEC also added that observers should not assume that the data provided by the financial entity was “accurate and complete.”
The SEC filing came the same day as Wells Fargo reported exposure to Grayscale and ProShares Bitcoin ETFs in its holdings and Bitcoin Depot.
After approving the Bitcoin ETFs back in January, the SEC is expected to decide on Ethereum ETFs by May 23. This is the date when an application from asset manager VanEck is set to reach its final deadline.
