JPMorgan Bolsters Crypto Holdings with $355 Million Bitcoin Bet

JPMorgan Chase has significantly increased its exposure to regulated cryptocurrency products, according to its second-quarter 13F filing with the SEC. The bank's stake in BlackRock's iShares Bitcoin Trust rose from $162 million to $355.7 million, a nearly 120% increase.

The bank also established new positions in Bitwise Solana Staking ETF and Grayscale XRP Trust ETF, and returned to XRP after exiting the asset entirely in Q1. The new exposure is small, spread across multiple products.

JPMorgan's total reportable holdings stand at $1.807 trillion, with crypto positions remaining a small fraction of that amount. However, the direction of travel points to deeper exposure to regulated crypto products.