JPMorgan's Bitcoin-Linked Investments Revealed: Strategy Holdings Increase by 36%
JPMorgan increased its Strategy holdings by 36%, while its position in BlackRock's Bitcoin ETF reached $540 million.
JPMorgan Chase, one of the largest banks in the United States, increased its equity positions in Bitcoin-linked companies and investment funds by the end of the third quarter. According to a 13F filing submitted to the US Securities and Exchange Commission (SEC), the bank increased its holdings of Strategy (MSTR) shares by 36% compared with the previous quarter, reaching 848,932 shares as of September 30, 2026. Its position in BlackRock's spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), also reached approximately $540 million.
JPMorgan Reports Notable Increase in Strategy Holdings
JPMorgan's filing with the SEC shows that the bank significantly expanded its position in Strategy shares during the third quarter.
The bank held 624,387 Strategy shares at the end of June, increasing that figure to 848,932 by the end of September.
This represented a quarterly increase of 224,545 shares.
According to the filing, the market value of JPMorgan's Strategy position stood at approximately $131.3 million as of September 30. The calculation was based on a share price of around $155.
However, the company's shares subsequently declined in value. According to data reported by The Block, MSTR closed at $114.41 on Thursday, November 12.
Based on that price, the value of the shareholding reported at the end of September would fall to approximately $97.1 million.
This comparison does not establish that JPMorgan's current shareholding remains unchanged. A 13F filing only reflects positions reported as of a specific date.
JPMorgan's BlackRock Bitcoin ETF Position Reaches $540 Million
JPMorgan's Bitcoin-linked investments extend beyond Strategy shares.
The bank also increased its holdings in the iShares Bitcoin Trust ETF, managed by BlackRock.
JPMorgan held 10,407,635 IBIT shares at the end of June, while its position reached 11,408,930 shares by the end of September.
The increase amounted to approximately 9.6%. The reported position had a market value of approximately $540 million at the end of September.
The bank's other cryptocurrency-related investments included 1,581,814 shares of Coinbase.
JPMorgan also reported positions in Robinhood and Bitcoin mining companies such as Core Scientific, MARA Holdings, Riot Platforms, Hut 8, and CleanSpark.
These figures indicate that the bank's equity and fund investments related to the cryptocurrency industry span several different segments.
What Do the Figures Mean for Institutional Bitcoin Demand?
13F filings require major investment managers to publicly disclose their quarter-end positions in certain US securities.
However, these documents do not independently reveal the exact dates on which individual transactions were executed, the ultimate economic owners of the investments, or the clients on whose behalf the positions were held.
Therefore, it would be inaccurate to conclude that all the positions disclosed by JPMorgan represent direct Bitcoin investments made on the bank's own account.
Kriptofoni's Assessment
The increase in JPMorgan's Strategy and IBIT holdings indicates that its reported exposure to Bitcoin-linked securities expanded by the end of the third quarter.
However, the figures reflect positions as of September 30. It remains unclear whether the bank maintained the same holdings following market movements in November.
Future 13F filings will be important for assessing how institutional investors' positions in Bitcoin-linked assets evolve.
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Disclaimer: This content is for informational purposes only and is not investment advice. Cryptocurrencies are high-risk; make investment decisions based on your own research.
Content Editor and Writer
Dr. Mesut İnan is a researcher, academic and crypto journalist who has been producing content about cryptocurrencies since 2018. He brings a different perspective to the industry by combining his expertise in sociology with the cryptocurrency ecosystem. Before joining Kriptofoni as co-founder, content editor and writer, İnan worked for several cryptocurrency media platforms: he was an editor and writer at Kriptokoin from 2018 to 2023 and at COINTURK from 2023 to 2024. İnan made a valuable contribution to the ecosystem with his book on Bitcoin, "Bitcoin Sen Bizim Her Şeyimizsin" (Bitcoin, You Are Our Everything). Alongside his academic background, his regular analyses, news and commentary have made him one of the well-known names in cryptocurrency journalism in Turkey. İnan continues his work as a writer and educator and remains a prominent expert voice in the cryptocurrency field.
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