JPMorgan Doubles Down on BlackRock's Bitcoin ETF with $400M Q2 Purchase

JPMorgan Chase's position in BlackRock's iShares Bitcoin Trust ETF (IBIT) has grown significantly in recent quarters. According to SEC Form 13F filings, the bank added $400 million worth of IBIT shares during Q2 2026, bringing its total holdings to approximately 17.8 million shares valued at around $650 million.

This marks a substantial increase from December 2025, when JPMorgan held roughly 3 million IBIT shares, and a notable jump from the end of Q1 2026, which saw the bank holding about 8.3 million shares, a 175% increase.

The bank's aggressive buying during periods of market downturn suggests its confidence in Bitcoin-related products. In fact, JPMorgan purchased IBIT shares when Bitcoin's price dropped by over 22% in Q1 2026.

Record profits from Q2 2026, with a net income of $21.2 billion and total managed revenue of $58 billion, may have contributed to the bank's increased investment in IBIT.