As the 13F reports are released one after another, the community is very happy to see that Wall Street giants such as JPMorgan and Wells Fargo have all held Bitcoin spot ETFs. According to the latest statistics, asset management companies that have declared ownership of BlackRock IBIT are as high as 250 homes! However, Bloomberg ETF analyst James Seyffart reminds everyone that most of them are "just market makers or APs"!
Nearly 500 companies reveal holdings in Bitcoin spot ETFs
According to a tweet from Bloomberg ETF analyst Eric Balchunas, as of now, nearly 500 companies have disclosed holdings of Bitcoin spot ETFs, of which BlackRock’s IBIT is the largest, with 250 companies currently holding it. And there’s still one week left until the 13F reporting deadline.
JPMorgan holds about $760,000 worth of Bitcoin ETFs, including ProShares’ BITO, BlackRock’s IBIT, Fidelity’s FBTC, Grayscale GBTC and Bitwise’s BITB.
13F is not the whole picture, many companies are just market makers or APs
Bloomberg ETF analyst James Seyffart reminds everyone. JPMorgan Chase (JPM), Susquehanna, and many others are simply market makers, or APs. Their ownership does not necessarily represent any information, only how many shares they owned on March 31, 2024.
(13F report: A total of 169 asset companies bought BlackRock IBIT, and SIG held nine Bitcoin ETFs, amounting to 1.3 billion magnesium)
As a market maker in a Bitcoin spot ETF, the number of shares held can fluctuate significantly from day to day. The 13F information is only a snapshot of the long positions they held on 3/31 and does not include short positions or derivatives, so we do not have a complete picture of their true exposure on 3/31.
See What ETF Market Makers Are Doing: Full Breakdown of Bitcoin Spot ETF Trading: JP Morgan Has Actually Bought Long Bitcoin Positions?
Just FYI everyone. JPM, Susquehanna (which also owns these ETFs and was all over this site last week) and others are just market makers and/or AP's. Their ownership isn't necessarily indicative of anything other than this is how many shares they had on 3/31/24. https://t.co/hADcA91xwz
— James Seyffart (@JSeyff) May 10, 2024
This article JPMorgan Chase also owns a Bitcoin spot ETF! Bloomberg Analyst: Just a Market Maker or AP appeared first on Chain News ABMedia.