JPMorgan Chase increased its cryptocurrency-related holdings during the third quarter, according to a Form 13F filing with US regulators released Thursday.
The bank raised its stake in Microstrategy (MSTR) by 36% to 848,932 shares as of September 30, up from 624,387 shares at the end of June. The position was valued at $131.3 million at quarter end, compared to $57.9 million three months earlier.
JPMorgan's holdings in BlackRock's iShares Bitcoin Trust (IBIT) also grew significantly. The bank held 11,408,930 IBIT shares worth $540 million as of September 30, up from 10,407,635 shares valued at $355.7 million in June.
Broker-Dealer Drives Holdings
JPMorgan's US broker-dealer, J.P. Morgan Securities LLC, held the majority of the IBIT shares at 11,198,915. The same unit increased its Microstrategy shares to 370,680 from 11,876 in June.
The broker-dealer also held options positions across both assets, including puts on 1,148,500 Microstrategy shares and calls on 3,703,200 IBIT shares.
Ethereum and Other Holdings
JPMorgan's ethereum exposure declined sharply. The bank reported 399 shares of the iShares Ethereum Trust (ETHA) at the end of September, down from 1,169,431 shares at the end of June.
The bank's stake in BitMine rose to 3,116,508 shares from 255,112 shares over the quarter.
Institutional managers file Form 13F filings within 45 days of each quarter's end, disclosing stocks and funds over which they have investment discretion. JPMorgan's filing listed 17 affiliated managers managing $1.84 trillion across 35,990 entries.
