JPMorgan's Q3 filing shows close to $1 billion in bitcoin ETFs and crypto stocks, led by $540 million in BlackRock's IBIT

Summary

JPMorgan's third-quarter 13F filing shows it held roughly $981 million across spot bitcoin ETFs, Strategy and Coinbase as of Sept. 30, Decrypt reported, likely topping $1 billion when stakes in Robinhood and bitcoin miners are counted.

The biggest position is 11.4 million shares of BlackRock's iShares Bitcoin Trust (IBIT), worth about $540 million, The Block and Decrypt reported; Decrypt puts the share increase at 9.6% from the prior quarter.

The bank added 224,545 Strategy shares in the quarter, The Block said, a 36% increase to 848,932 shares worth about $131.3 million, according to Decrypt.

Decrypt cautions that a 13F is a Sept. 30 snapshot and banks often hold such positions to hedge or facilitate client trades, so the total reflects JPMorgan's crypto-market activity more than a bet on prices.

Key facts

• JPMorgan reported 224,545 more Strategy shares in the third quarter as its BlackRock bitcoin ETF holdings climbed to 11.4 million shares. (The Block)
• The IBIT stake of 11,408,930 shares was worth about $540 million, up from about $356 million a quarter earlier; smaller Grayscale and Bitwise ETF positions bring total spot bitcoin ETF exposure to about $549 million. (Decrypt)
• JPMorgan also held a roughly $301 million Coinbase stake, positions in Robinhood and miners including Core Scientific and Hut 8, and sizable options tied to IBIT and Strategy. (Decrypt)
• The filing predates a recent five-day stretch in which spot bitcoin ETFs lost more than $1.4 billion, Decrypt noted. (Decrypt)

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