JPMorgan Chase significantly expanded its crypto ETF exposure in the second quarter, while spot Bitcoin and Ethereum funds extended a powerful August inflow streak on Thursday. The bank’s quarterly 13F filing with the SEC, filed Aug. 12, showed its position in BlackRock’s iShares Bitcoin Trust grew to roughly 10.4 million shares, valued at about $355.7 million as of June 30. That compared with 8.3 million shares worth about $162 million in the previous quarter.
The filing also revealed a more than fourfold increase in JPMorgan’s stake in BlackRock’s iShares Ethereum Trust. The position rose to approximately 1.17 million shares, valued near $14.3 million, up 338% from Q1. In addition, the bank established a new position of roughly 47,500 shares in the Bitwise Solana Staking ETF and returned to XRP exposure after exiting the asset entirely in Q1. The XRP holdings were spread across the Bitwise XRP ETF, the Grayscale XRP Trust ETF and a stake in Armada Acquisition Corp II, a blank-check company pursuing a Ripple ecosystem deal. That XRP position was small in dollar terms, but the return after a zero Q1 stake was a notable signal in the filing.
Although the crypto holdings remain a small fraction of JPMorgan’s total reportable holdings of $1.807 trillion across more than 34,000 positions, the direction signals deeper exposure to regulated crypto products. The bank’s next 13F report, due in mid-November, will show whether it added to these positions in Q3.
On the ETF flow side, U.S. spot Bitcoin ETFs pulled in $608.3 million on Thursday, pushing weekly net inflows above $1.6 billion. August net inflows reached $2.07 billion through Thursday, surpassing April’s previous monthly high of $1.97 billion with seven trading sessions remaining. Cumulative net inflows now stand at $53.4 billion. Bitcoin traded near $75,133 during the session.
Ethereum ETFs added $220.8 million, their largest single-day intake since October and a major reversal after May and June’s combined net outflows of more than $1 billion. BlackRock’s ETHA led with roughly $173 million, followed by ETHB with $35.9 million and Fidelity’s FETH with $5.8 million. Weekly Ether ETF inflows reached about $512.2 million, while total net assets climbed to $13.58 billion. Ethereum traded near $2,360, and exchange-held ETH fell from 7.70 million coins on June 2 to 6.54 million on August 18, reducing available selling supply.
Morgan Stanley also increased its crypto ETF holdings in the same reporting period, underscoring a broader trend among large banks toward regulated crypto exposure.
