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JPMorgan Trims Clients' Exposure to Europe by Selling Own ETF

  • Nearly half-a-billion dollars has left the bank’s BBEU fund
  • The lender owned almost all the ETF’s shares as of June 30
Updated on

JPMorgan Chase & Co. looks to be cooling on Europe.

More than $450 million exited the New York-based bank’s $3.8 billion BetaBuilders Europe ETF this week, the biggest outflow since the exchange-traded fund debuted in June 2018, data compiled by Bloomberg show. JPMorgan, which oversees trillions of dollars for wealthy clients, accounted for almost all of the fund’s assets as of June 30, regulatory filings show. The equity ETF has only absorbed $72 million of new money since that date.