Key Notes
- The banking giant's accelerated accumulation of IBIT shares demonstrates growing institutional appetite for cryptocurrency exposure.
- Dimon's transformation from calling Bitcoin a "fraud" to embracing it reflects the legitimizing impact of regulated ETF products.
- JPMorgan's strategic pivot coincides with Bitcoin maintaining support above $100,000 despite recent market volatility.
JPMorgan Chase recently disclosed holding 5.28 million shares of Blackrock’s iShares Bitcoin Trust (IBIT) exchange-traded fund (ETF), a 64% increase over its previously reported holdings in June.
According to the New York-based fintech firm’s most recent 13F-HR Institutional investment manager holdings report , published on the SEC website on Nov. 7, as of Sept. 30, the firm’s IBIT shares were worth $343 million.
In a 13F filing today, JP Morgan reported holding 5,284,190 shares of IBIT valued at $343 million as of September 30.
That's a 64% increase from 3,217,056 shares previously reported as of June.
The filing also reported IBIT calls valued at $68 million and puts valued at $133…
— MacroScope (@MacroScope17) November 7, 2025
Exchange-traded Funds are Crypto’s Institutional Entry Point
In the US, the regulatory approval of spot Bitcoin ETFs in January of 2024 represented a watershed moment for Bitcoin and the entire cryptocurrency market.
Spot Bitcoin ETFs, such as IBIT, are widely considered an important gateway for institutional investors to enter the cryptocurrency market because they provide access to modern digital assets without the need for custody. And, unlike futures ETFs, these holdings represent direct asset buys.
Prior to the regulatory approval and launch of spot Bitcoin ETFs in the US, JPMorgan Chase was, arguably, among the largest detractors concerning the cryptocurrency market.
The company’s chairman and CEO, Jamie Dimon , made numerous disparaging comments concerning the validity of cryptocurrency as a real currency, going so far as to call Bitcoin a “fraud,” insisting the US government should “shut it down,” and associating cryptocurrency with criminal activity .
Dimon has since softened his stance. Not only has JPMorgan Chase embraced Bitcoin through IBIT, the rate at which the firm is increasing its exposure suggests that its high value institutional clients are as well.
In related news, Bitcoin ETFs recently broke a six-day outflow streak showing the first signs of recovery in nearly a week as Bitcoin BTC $102 270 24h volatility: 1.0% Market cap: $2.04 T Vol. 24h: $88.50 B declined by 16% over the course of the week. Still, as Coinspeaker reported on Nov. 6, BTC managed to cling to the $100,000 support level. As of the time of this article’s publication, it’s trading at $101,322.88.
