JPMorgan Chase Increases Bitcoin and Ethereum ETF Holdings in Q2: IBIT Position Grows by 25%, ETHA Position Surges Over 3x

August 14, JPMorgan Chase's latest 13F filing with the U.S. SEC shows that as of June 30, it held approximately 10.4 million shares of BlackRock IBIT, an increase of about 25% from the previous quarter's approximately 8.3 million shares, disclosing a position value of about $356 million.

During the same period, its BlackRock ETHA holdings increased from about 267,000 shares to about 1.17 million shares, a growth of over 3 times, with the position size exceeding four times the previous level. The filing also disclosed a small amount of XRP investment product holdings, including 181 shares of Grayscale XRP Trust and 113 shares of Bitwise XRP ETF.

Jonatan Randin, Senior Market Analyst at PrimeXBT, pointed out that this 13F covers 18 investment management entities under JPMorgan Chase, and some holdings may be related to client trading or inventory management. Additionally, the 13F does not disclose short positions, so it is not possible to determine JPMorgan Chase's net exposure or directional views on BTC and ETH based solely on these long positions.

Moreover, JPMorgan Chase also reduced its holdings in several Bitcoin mining companies in the second quarter. Randin stated that as some mining companies expand into AI and high-performance computing, their properties as proxies for Bitcoin's price are weakening.