JPMorgan Doubles Down on Bitcoin, Ethereum Exposure in Q2 Filing

JPMorgan, one of the world's largest financial institutions, has revealed its increased exposure to Bitcoin, Ethereum, and XRP through U.S.-listed ETFs in its Q2 filing with the SEC. The bank held a combined 10.4 million shares of BlackRock's IBIT, worth about $355.7 million as of June 30, marking a sharp increase from the previous quarter.

The increase comes even as Bitcoin ETF flows have remained unstable, with U.S. spot Bitcoin ETFs recording net outflows on August 13 and 12. JPMorgan also reported a significant jump in its Ethereum ETF holdings, with nearly 1.17 million ETHA shares worth about $14.3 million, representing a 338% increase from the previous quarter.

The bank's return to XRP through two ETF positions, including the Bitwise XRP ETF and Grayscale XRP Trust ETF, was also notable. JPMorgan initiated a new position in the Bitwise Solana Staking ETF BSOLUSD, holding roughly 47,500 shares.