JPMorgan Chase and Goldman Sachs are signaling stronger institutional support for digital assets, according to market commentary and a fresh SEC 13F filing. The latest disclosure shows JPMorgan meaningfully expanded its cryptocurrency ETF exposure during the second quarter of 2025, reinforcing a broader shift among traditional financial institutions.
As of June 30, JPMorgan held roughly 10.4 million shares of BlackRock’s iShares Bitcoin Trust (IBIT), valued at about $355 million, up from 8.3 million shares in the prior quarter. Its stake in BlackRock’s iShares Ethereum Trust (ETHA) jumped to approximately 1.17 million shares worth around $14.3 million, a 338% quarter-over-quarter increase.
The bank also opened a new position in the Bitwise Solana Staking ETF, holding about 47,500 shares, and resumed XRP-related holdings after selling its position in the first quarter. Those include the Bitwise XRP ETF and Grayscale XRP Trust ETF, alongside nearly 19,900 shares of Armada Acquisition Corp II, a special purpose acquisition company linked to a Ripple-backed deal.
While 13F filings are historical and JPMorgan has publicly maintained a cautious stance on digital assets, the moves reflect growing institutional demand for regulated crypto investment vehicles. Combined with reports that Goldman Sachs is also ramping up crypto support, the development may encourage more retail and institutional participation and add momentum to ETF-driven market activity. The growing presence of major banks could also support a more stable and mature market environment over time.
