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JPMorgan also holds Bitcoin spot ETF! Bloomberg analyst: Just market makers or AP

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JPMorgan also holds Bitcoin spot ETF! Bloomberg analyst: Just market makers or AP

With the continuous release of 13F reports, the community is delighted to see Wall Street giants such as JPMorgan and Wells Fargo holding Bitcoin spot ETFs. The latest statistics show that as many as 250 asset management companies have declared ownership of BlackRock's IBIT! However, Bloomberg ETF analyst James Seyffart reminds everyone that most of them are "just market makers or APs"!

Nearly 500 Companies Disclose Holding Bitcoin Spot ETFs

According to a tweet by Bloomberg ETF analyst Eric Balchunas, as of the latest count, nearly 500 companies have disclosed holding Bitcoin spot ETFs, with BlackRock's IBIT leading with 250 companies currently holding. There is still one week left until the 13F reporting deadline.

JPMorgan holds around $760,000 worth of Bitcoin ETFs, including ProShares' BITO, BlackRock's IBIT, Fidelity's FBTC, Grayscale's GBTC, and Bitwise's BITB, as reported by Phoenix Trades.

13F is Not All-Inclusive, Many Companies Are Just Market Makers or APs

Bloomberg ETF analyst James Seyffart warns that JPMorgan, Susquehanna, and many other companies are just market makers or Authorized Participants (APs). Their ownership does not necessarily represent any information; it simply indicates how many shares they held as of March 31, 2024.

13F Report: 169 asset managers bought BlackRock's IBIT, SIG holds nine Bitcoin ETFs, totaling 1.3 billion.

Market makers in Bitcoin spot ETFs may see significant fluctuations in the number of shares they hold daily. 13F data is just a snapshot of their long positions as of 3/31 and does not include short positions or derivative products, so we cannot fully understand their true exposure as of 3/31.

Understanding what ETF market makers are up to: A comprehensive analysis of Bitcoin spot ETF trading: Did JPMorgan actually go long on Bitcoin?