Key Takeaways:
JPMorgan Chase disclosed a $355.7 million stake in BlackRock's spot Bitcoin ETF in its Q2 13F filing, while adding fresh XRP and ether exposure.
The position in BlackRock's iShares Bitcoin Trust (IBIT) rose about 25 percent to roughly 10.4 million shares, up from about 8.3 million shares in the prior quarter, according to the bank's quarterly filing with the US Securities and Exchange Commission. The bank also increased its call positions in IBIT to 3.94 million from 3.77 million and cut put positions from 4.75 million shares to 3.49 million.
JPMorgan held 113 shares in the Bitwise XRP ETF and 181 shares in the Grayscale XRP ETF, re-entering XRP exposure after exiting entirely in Q1 2026. The bank's BlackRock Ethereum ETF (ETHA) holdings jumped 338 percent to about 1.17 million shares worth more than $14 million. JPMorgan also boosted holdings in the Bitwise Ethereum ETF and Grayscale's ETHE and ETH ETFs.
The disclosure comes as US spot Bitcoin ETFs logged a $61 million outflow during the same week, contrasting with JPMorgan's accumulation. The bank's moves follow similar disclosures from Morgan Stanley, which revealed XRP ETF holdings across three funds, and IMC-Chicago, which boosted bullish options positions on XRP ETFs.
JPMorgan also disclosed 19,894 shares held in Ripple-backed Evernorth Holdings' SPAC Armada Acquisition Corp II (XRPN), as the company moves closer to a merger. The Wall Street giant's $5.1 trillion asset base makes even small crypto allocations notable for market observers tracking institutional flows.
Bitcoin traded at $63,727, down 0.10 percent in the past 24 hours as of 04:30 UTC, while XRP held near $1.01. Spot XRP ETFs recorded $2.25 million in inflows on Thursday, with the Bitwise XRP ETF the only fund to post inflows. Cumulative XRP ETF inflows since launch stand at $1.51 million, while total assets under management dropped to $942.25 million from a peak above $1.25 billion.
XRP futures open interest decreased 1.23 percent to $2.69 billion, though CME futures open interest rose 1.84 percent in an hour, suggesting growing institutional positioning. Morgan Stanley separately disclosed 6,715 shares in the Franklin XRP ETF, 255 shares in the REX-Osprey XRP ETF, and 67 shares in the Bitwise XRP ETF, along with 50,540 shares in Armada Acquisition Corp II. BlackRock CEO Larry Fink recently said he is very bullish on Bitcoin and the crypto market over the next 12 months.
The pattern of major banks accumulating crypto ETF exposure while retail flows remain mixed points to a structural shift in how traditional finance allocates to digital assets. Investors will watch JPMorgan's next quarterly filing to see whether this accumulation trend continues.
This article is for informational purposes only and does not constitute investment advice.
