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JPMorgan significantly increases holdings in Bitcoin ETF, optimistic about BTC rising to $170,000

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ChainCatcher reports that, according to The Block, JPMorgan significantly increased its Bitcoin ETF holdings in the third quarter, with BlackRock’s iShares BTC Trust (IBIT) increasing its stake by 64% to 5.28 million shares, valued at approximately $333 million. Meanwhile, the bank nearly liquidated its Ethereum ETF holdings, leaving only 66 shares worth about $1,700. JPMorgan analysts predict that Bitcoin prices could reach $170,000 within the next 6-12 months.

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