JPMorgan Boosts Bitcoin ETF Stakes, Raises BlackRock IBIT in Q1

JPMorgan increased its reported holdings in several Bitcoin exchange-traded funds in the first quarter of 2026, significantly enlarging its position in BlackRock’s iShares Bitcoin Trust (IBIT). The bank’s IBIT stake rose about 174% to roughly 8.3 million shares, adding approximately $162 million in reported value while Bitcoin fell more than 22% during the quarter, based on market data.

The changes appear in a Form 13F filing published Wednesday, which discloses the firm’s reportable long positions as of the end of the quarter. The filing shows the IBIT position increased from about 3 million shares at the end of the prior quarter to 8.3 million shares. The filing covers holdings at quarter end and does not reflect intraperiod trading or short positions.

JPMorgan expanded its stakes in other spot Bitcoin ETFs as well. Holdings in the Bitwise Bitcoin ETF (BITB) climbed nearly 900%, from 4,872 shares to 48,258 shares, adding roughly $1.5 million in reported value. The Fidelity Wise Origin Bitcoin Fund (FBTC) position rose about 450% to 22,196 shares, contributing about $980,000 in added value. The bank also increased its holdings in the ProShares Bitcoin Strategy ETF (BITO), which tracks Bitcoin futures, growing the position from 40 shares to 1,302 shares.

Activity in altcoin-linked ETFs was mixed. JPMorgan opened a position in the Bitwise Solana Staking ETF (BSOL), reporting 47,460 shares valued at about $523,000. The bank increased exposure to Ethereum products, with the iShares Ethereum Trust (ETHA) rising 36% to 266,734 shares and a notable increase in the Bitwise Ethereum ETF (ETHW). JPMorgan fully exited its reported position in the Bitwise XRP ETF, reducing the holding from 3,870 shares to zero.

The 13F also recorded shifts in equity holdings tied to crypto. JPMorgan reduced positions in trading and crypto services firms including Robinhood Markets, Coinbase, Galaxy Digital and Bitdeer Technologies Group, while adding to holdings in companies such as Block, MARA Holdings, Core Scientific and PayPal. The filing shows a slight increase in the bank’s holding in Strategy, identified in the filing as the world’s largest public Bitcoin holder.

The Form 13F provides a snapshot of long positions at quarter end and does not capture trading activity that occurred during the quarter or any short positions.