JP Morgan, Wells Fargo latest major banks to disclose Bitcoin exposure via ETFs

JP Morgan and Wells Fargo are the latest major global banks to disclose exposure to Bitcoin via some of the spot BTC exchange-traded funds launched in January.

The two lenders filed their 13F disclosures on May 10, revealing a modest investment in the Bitcoin ETFs.

JP Morgan disclosed $731,246 of spot Bitcoin ETF investments in BlackRock’s IBIT, Bitwise’s BITB, Fidelity’s FBTC, and Grayscale’s GBTC. The majority of the amount — $477,425 — was invested in IBIT. Meanwhile, Wells Fargo reported a $141,817 investment in Grayscale’s GBTC during the first quarter.

Earlier disclosures have revealed that both BNP Paribas and BNY Mellon have also invested amounts into the Bitcoin ETFs, signaling a growing trend among traditional financial institutions despite the modest exposures.

Furthermore, other major banks, including Morgan Stanley and UBS, have indicated an intent to allow clients to invest in spot Bitcoin ETFs. However, the two lenders have yet to disclose direct exposure to Bitcoin as of press time.