JPMorgan buys $400M of iShares Bitcoin ETF in Q2, bringing total position to $650M

JPMorgan Chase, the largest bank in the United States, added $400 million worth of BlackRock’s iShares Bitcoin Trust ETF (IBIT) to its portfolio during the second quarter of 2026. The purchase brought the bank’s total IBIT position to 17.8 million shares valued at roughly $650 million. A position that keeps growing To appreciate the trajectory here, you need to rewind a few months. At the end of 2025, JPMorgan held approximately 3 million IBIT shares. By the close of Q1 2026, that number had ballooned to roughly 8.3 million shares, a 175% increase. The Q1 buying spree happened during a period when Bitcoin’s price dropped by more than 22%. In other words, JPMorgan was buying the dip at institutional scale while retail investors were hitting the panic button. Now in Q2, the bank added enough to push its total to 17.8 million shares. These holdings are disclosed through SEC Form 13F filings, the quarterly snapshots that reveal what institutional investors own. The filings show a clear and consistent pattern: JPMorgan has been methodically increasing its Bitcoin ETF exposure across multiple consecutive quarters. Record profits fueling the crypto push JPMorgan reported record net income...