JPMorgan, Morgan Stanley Boost Crypto ETF Holdings Amid Market Volatility

JPMorgan Chase & Co. and Morgan Stanley both increased their cryptocurrency ETF positions in Q2, despite market volatility.

The largest US bank by assets, JPMorgan more than quadrupled its stake in BlackRock's Ethereum fund and added first-time exposure to XRP products.

The bank reported approximately 10.4 million shares of the iShares Bitcoin Trust ETF (IBIT), valued at around $356 million, up from 8.3 million shares at the end of Q1.

Morgan Stanley also increased its IBIT share count during the period, though the reported value of that position declined to about $549 million from $667 million as Bitcoin prices fell over the quarter.