JPMorgan Chase has significantly increased its exposure to Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs), according to its latest 13F filing with the U.S. Securities and Exchange Commission (SEC). The financial giant now holds $984,000 in Bitcoin ETFs and $32,300 in Ethereum ETFs across multiple funds.
Among its Bitcoin ETF investments, JPMorgan has allocated:
- $523,000 to ProShares Bitcoin ETF (BITO)
- $290,000 to BlackRock’s iShares Bitcoin Trust ETF (IBIT)
- $68,000 to Bitwise Bitcoin ETF (BITB)
- $55,000 to Fidelity Wise Origin Bitcoin ETF (FBTC)
- $37,000 to Grayscale Bitcoin Trust ETF (GBTC)
For Ethereum ETFs, the bank’s holdings include:
- $23,800 in Grayscale Ethereum Trust ETF (ETHE)
- $6,200 in iShares Ethereum Trust ETF (ETHA)
- $2,100 in Fidelity Ethereum Fund (FETH)
- $102 in Grayscale Ethereum Mini Trust ETF (ETH)
This represents a 30% increase from May 2024, when JPMorgan reported $760,000 in Bitcoin ETF holdings.
Goldman Sachs Doubles Down on Bitcoin ETFs
JPMorgan’s move is part of a broader trend of institutional adoption. Goldman Sachs has also significantly expanded its exposure, now holding $1.27 billion in BlackRock’s iShares Bitcoin Trust ETF (IBIT), amounting to 24,077,861 shares. The bank has also disclosed a $288 million stake in Fidelity Wise Origin Bitcoin ETF (FBTC), with 3,530,486 shares.
Compared to the previous quarter, Goldman Sachs’ Bitcoin ETF holdings have surged 88%, while its FBTC stake has grown 105%.
Crypto Funds See First Major Outflows of 2025
Despite growing institutional investment, digital asset funds experienced their first major outflows of the year, with investors pulling $415 million last week. The majority of these losses—$430 million—came from Bitcoin-based investment products, including spot ETFs.
According to CoinShares Head of Research James Butterfill, the sell-off was driven by Federal Reserve Chairman Jerome Powell’s cautious stance on interest rate cuts.
“The U.S. central bank need not be in a hurry to cut rates,” Powell stated, reinforcing investor concerns that looser monetary policy may take longer than expected.
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