JP Morgan and Wells Fargo, among the latest major global banks, have revealed their exposure to Bitcoin through some of the spot BTC exchange-traded funds launched in January.

According to their 13F disclosures filed on May 10, both banks have made modest investments in 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, with the majority invested in IBIT. Wells Fargo reported a $141,817 investment in Grayscale’s GBTC during the first quarter.

Earlier disclosures showed that BNP Paribas and BNY Mellon have also invested in Bitcoin ETFs, indicating a growing trend among traditional financial institutions despite the relatively small exposures.

Additionally, major banks like Morgan Stanley and UBS have expressed intentions to allow clients to invest in spot Bitcoin ETFs, although they have not yet disclosed direct exposure to Bitcoin as of press time.

Industry experts, including BlackRock’s head of digital assets, anticipate institutional flows into Bitcoin ETFs to increase as more sophisticated investors, such as sovereign wealth funds, enter the sector.

BlackRock's 13F filing on May 10 revealed a $6.6 million investment in its own IBIT fund. Other spot Bitcoin ETF issuers, such as Ark Invest and Van Eck, have similarly invested in their own funds.

BlackRock’s IBIT has seen strong performance, with the highest cumulative inflows among spot Bitcoin ETFs and the second-largest assets under management. It has also set a new record for reaching $10 billion in AUM.

Chicago-based hedge fund CTC Alternative Strategies also reported a significant investment in IBIT on May 9.

Several other financial institutions and companies, including Hightower Advisors, US Bancorp, SouthState, Susquehanna International Group, Burkett Financial Services, and Legacy Wealth Asset Management, have disclosed investments in spot Bitcoin ETFs.

These disclosures in 13F filings since the launch of spot Bitcoin ETFs in January indicate a growing interest in Bitcoin among traditional financial firms, with hundreds of firms investing in various Bitcoin ETFs.