Katanv
vip

Two of the largest American banks, Wells Fargo and J.P. Morgan, have announced the purchase of shares of spot Bitcoin ETFs.


In the Wells Fargo report, it is stated that the company owns 2245 shares of Graуscale Bitcoin Trust (GBTC) with a value of $121,208 at the current exchange rate. In addition, the organization acquired 27 shares of ProShares Bitcoin Strategy ETF (BITO) with a value of $912.
J.P. Morgan invested $760,000 in iShares Bitcoin Trust (IBIT), Wise Origin Bitcoin Fund (FBTC), GBTC, Bitwise Bitcoin ETF (BITB), and BITO. In addition, the bank holds securities for the owner of the Bitcoin Depot cryptocurrency ATMs with a value of $47,000.
Thus, Wells Fargo and J.P. Morgan own Bitcoin ETFs worth $882,120, which represents only 0.000018% of the assets managed by the banks.
An analyst from Bloomberg, Eric Balchunas, believes that other American financial organizations will follow the example of Wells Fargo and J.P. Morgan and invest in Bitcoin ETF, despite the market downturn of BTC. The positive forecast is supported by statistical indicators, according to which from April 23 to May 10, the capital inflow into Bitcoin ETF reached $11.7 million. #BTC# #ETH#
View Original
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)