JPMorgan Increased Its Bitcoin Investments in the Third Quarter

One of the largest banks in the US, JPMorgan, has drawn attention by significantly increasing its investments in Bitcoin (BTC) in the third quarter. According to a legal notice published by the bank on Friday, it is reported that it holds 5.28 million shares through BlackRock’s iShares Bitcoin ETF (IBIT). The total value of these shares at the end of the quarter was announced to be 343 million dollars. In the previous quarter, this figure was 3.2 million shares and 302.6 million dollars. This means that JPMorgan has expanded its Bitcoin ETF position by approximately 65% in just three months.

In a note published earlier this week, JPMorgan projected that the price of Bitcoin could reach 170,000 dollars within the next 12 months. The bank stated that if strong institutional demand for spot Bitcoin ETFs continues, the price could make a significant leap from the current level of 102,000 dollars. This prediction indicates that the interest from institutional investors is likely to strengthen further, especially with the combination of a resurgence in ETF inflows and the increasing impact of the halving-related supply constraints.

JPMorgan's latest acquisition once again reinforces the trust of large financial institutions in Bitcoin. Experts emphasize that particularly after the approval of spot ETFs in the US, banks, funds, and family offices have been increasingly turning to Bitcoin. This trend suggests that the institutional bull cycle, expected to begin by the end of 2024, could gain significant momentum in 2025. In this process, which presents a significant opportunity for investors, the price volatility of Bitcoin and institutional demand are becoming noteworthy.