Global investment banks revealed significant positions held in cryptocurrency-related exchange-traded funds (ETFs) and Bitcoin BTC/USD stock MicroStrategy Inc. MSTR, according to their latest 13F filings with the SEC.
JPMorgan Chase
JPMorgan Chase & Co., the world’s largest bank by market capitalization, made sizable investments in Bitcoin and Ethereum ETH/USD ETFs for the quarter ending Sept. 30.
The bank purchased 387 shares, worth $13,982, of iShares Bitcoin Trust ETF IBIT after offloading them all in the last quarter.
JPMorgan also reallocated to Fidelity Wise Origin Bitcoin Fund FBTC, bagging 213 shares worth $11,877. Overall, the banking giant's Bitcoin ETF exposure reached nearly $65,000.
JPMorgan tapped into the Ethereum ETFs for the first time, with sizable investments in Grayscale Ethereum Trust ETF ETHE and its miniature version, Grayscale Ethereum Mini Trust ETF ETH. Together, its stake in the two funds amounted to roughly $30,700.
The bid to increase cryptocurrency exposure caused JPMorgan to boost its MicroStrategy portfolio by 12.5% to 660,693 at the end of Q3, worth $111.39 million.
Goldman Sachs
Another Wall Street giant, Goldman Sachs Group Inc. GS, reported its 13F filing last week.
The bank disclosed $710 million invested across multiple Bitcoin ETFs, with a stake of 12.7 million shares valued at $461 million in IBIT.
These investments solidified Goldman’s position as the second-largest holder of IBIT, now the world's biggest Bitcoin investment fund, with assets worth $42.89 billion as of this writing.
Goldman Sachs holds $25.16 million in Ethereum ETFs, split between Grayscale’s Mini Trust and Fidelity’s Ethereum Fund FETH.
Interestingly, the banking juggernaut liquidated around 534,894 shares of MicroStrategy in Q3, reducing its stake to $140.44 million.
Morgan Stanley
Morgan Stanley MS downsized its Bitcoin ETF portfolio to $183.39 million, from $203 million in the last quarter.
The outflows were primarily driven by the selling of 449,802 IBIT shares.
Additionally, Morgan Stanley invested in Ethereum ETFs, primarily through a stake in iShares Ethereum Trust ETF ETHA.
Meanwhile, its MicroStrategy position jumped 22.6% to 9,595,008 shares worth $1.61 billion.
Photo by Avi Rozen on Shutterstock
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