JPMorgan Chase has significantly increased its investment exposure to Bitcoin through BlackRock’s spot ETF, signaling renewed institutional interest in the leading digital asset.

According to the bank’s most recent SEC filings, JPMorgan boosted its holdings in BlackRock’s iShares Bitcoin Trust (IBIT) by roughly two-thirds during the third quarter, bringing its total position to about 5.28 million shares.

At the end of September, that stake was worth around $333 million – roughly $312 million at current prices – marking a 64% rise from the previous quarter when the bank held just over 3.2 million shares. The move positions JPMorgan among a growing number of major financial institutions gaining exposure to Bitcoin through regulated exchange-traded products. Still, industry giants like Goldman Sachs and Millennium Management continue to hold larger positions.

The increase comes amid a volatile few weeks for the broader crypto market. In early October, both Bitcoin and Ethereum saw sharp declines after the announcement of steep tariffs on Chinese imports triggered widespread deleveraging and liquidations. Since then, inflows into spot Bitcoin ETFs have slowed, though modest recoveries have emerged – including a $240 million rebound in net inflows this Thursday, led by BlackRock’s IBIT, which attracted about $112 million.

JPMorgan’s expanding exposure aligns with its increasingly optimistic view on Bitcoin’s market trajectory. The bank’s analysts recently projected that the cryptocurrency could climb toward $170,000 within the next six to twelve months, citing a steady decline in volatility compared to gold and evidence that the recent wave of futures-driven deleveraging is nearing completion.

In contrast, JPMorgan’s interest in Ethereum remains minimal. Its filings show just 66 shares in BlackRock’s iShares Ethereum Trust – a position valued at around $1,700 – down from 111 shares in the prior quarter. The bank also disclosed a set of neutral call and put options totaling 50,000 contracts each, suggesting limited directional exposure to ETH.

Taken together, the filings reveal a subtle yet important shift in JPMorgan’s approach to digital assets. While the bank maintains a cautious stance toward Ethereum, its growing investment in Bitcoin-focused ETFs underscores a broader institutional trend – one where traditional finance continues to find ways to engage with crypto through regulated, transparent vehicles.

Tags: Bitcoin blackrock Ethereum gold