JP Morgan Boosts Crypto ETF Holdings Amid Institutional Interest
JPMorgan Chase has increased its stake in BlackRock's iShares Bitcoin Trust by over 100% to approximately $356 million as of June 30, according to the bank's second-quarter 13F filing with the SEC. This represents a significant boost from the prior quarter's $162 million valuation.
The bank now holds about 10.4 million shares in the trust, which is still a small fraction of its total reportable holdings valued at over $1.807 trillion across more than 34,000 positions. The direction of travel points to deeper exposure to regulated crypto products.
JPMorgan also reported a new position in the Bitwise Solana Staking ETF with around 47,500 shares and returned to XRP after exiting it entirely in Q1. The bank's stake in BlackRock's iShares Ethereum Trust rose more than fourfold to about 1.17 million shares, valued near $14.3 million.