JPMorgan Boosts Bitcoin ETF Holdings to $356M, Re-enters XRP

Aug 14, 2026 — JPMorgan Chase disclosed a $355.7 million stake in BlackRock’s iShares Bitcoin Trust (IBIT), up from roughly $162 million in Q1, according to its latest 13F filing with the SEC on August 12. The bank also added fresh positions in XRP-linked products and grew its Ethereum ETF holdings by 338%.

Immediate Details & Direct Quotes

JPMorgan’s Q2 2026 13F-HR institutional holdings report reveals approximately 10.4 million shares of BlackRock’s IBIT, valued at $355.7 million as of June 30. This marks a significant increase from 8.3 million shares worth near $162 million in the bank’s first-quarter filing.

The IBIT stake represents a fraction of JPMorgan’s total reportable holdings of $1.807 trillion spread across 34,064 positions. Notably, the bank’s options book shifted more bullish, with call options on IBIT rising to 3.94 million from 3.77 million, while put options declined to 3.5 million from 4.75 million. Fewer puts relative to calls typically signals reduced hedging against price declines.

JPMorgan’s stake in BlackRock’s iShares Ethereum Trust (ETHA) grew 338% to approximately $14.3 million across nearly 1.17 million shares, according to the filing data.

Market Context & Reaction

Perhaps more significant is JPMorgan’s re-entry into XRP after its Q1 filing showed a complete exit from Bitwise’s XRP ETF, dropping from 3,870 shares to zero. The Q2 filing reverses that retreat with new positions in the Bitwise XRP ETF and Grayscale XRP Trust ETF, plus a stake in Armada Acquisition Corp II, a Ripple-backed SPAC trading under ticker XRPN.

The XRP-linked positions remain small in dollar terms. The Bitwise XRP ETF stake is valued at $1,356 across 113 shares, the Grayscale XRP Trust ETF position is worth $3,763 across 181 shares, and the Armada Acquisition Corp II holding is valued at $207,295 across 19,894 shares.

This accumulation contrasts with broader Bitcoin ETF market performance. U.S. spot Bitcoin ETFs recorded net outflows of $61.16 million on August 13. Fidelity’s FBTC led redemptions with $46.82 million withdrawn, while BlackRock’s IBIT saw $14.34 million in outflows. Ether funds moved opposite, adding $7.38 million in net inflows that day.

Background & Historical Context

The shift from a full exit to renewed exposure across three separate XRP-linked vehicles suggests JPMorgan’s asset management arm is no longer avoiding the asset. This follows a broader pattern at JPMorgan, whose analysts have previously argued institutional investors increasingly treat Bitcoin as competition for gold allocations.

The August 13 outflow followed an even larger $144.67 million exit on August 11 that snapped a five-session inflow streak. These choppy short-term flows contrast with steady accumulation visible in institutional filings like JPMorgan’s.

XRP closed near $1 on August 13, approximately 69% below its January 2025 peak, while daily active addresses rose roughly one-third.

What This Means

JPMorgan’s next 13F filing, due mid-November, will reveal whether the bank continued adding to its Bitcoin, Ether, and XRP positions through Q3 or pared back after Q2’s buildup.

Investors will watch whether the options shift toward more calls and fewer puts signals genuine bullish conviction or simply reflects routine portfolio rebalancing.

The bank’s renewed XRP exposure, though minimal in dollar terms, marks a notable reversal after a complete exit earlier this year and aligns with its analysts’ stance on Bitcoin as gold competition.

This article represents market information only and does not constitute financial advice. Always conduct your own research before making investment decisions.

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