JP Morgan Doubles Down on Bitcoin with $300 Million Investment in IBIT ETF

Bitcoin prices surged past $90,500 following three consecutive days of inflows into US spot Bitcoin ETFs. This move signals a growing trend of institutional investors seeking regulated exposure to the cryptocurrency. JP Morgan has taken note, significantly increasing its exposure to Bitcoin through Blackrock’s IBIT ETF. The bank now holds over $332 million in IBIT shares and an additional $10.7 million in externally managed shares, according to Arkham analytics firm.