JPMorgan Chase has been making significant moves in the world of cryptocurrencies, with a 30% increase in its stake in exchange-traded funds (ETFs) since May 2024. This represents an investment surge of over $220,000 in a short span of a few months. The bank, in its latest 13F filing with the U.S. Securities and Exchange Commission (SEC), disclosed its increased exposure to Bitcoin (BTC) and Ethereum (ETH) ETFs.
JPMorgan has invested a substantial $984,000 in Bitcoin ETFs and a further $32,300 in Ethereum ETFs through various products. Notably, the bank has diversified its Bitcoin ETF investments across multiple funds. The ProShares Bitcoin ETF (BITO) received a $523,000 investment, BlackRock’s iShares Bitcoin Trust ETF (IBIT) garnered $290,000, the Bitwise Bitcoin ETF (BITB) secured $68,000, the Fidelity Wise Origin Bitcoin ETF (FBTC) was allocated $55,000, and the Grayscale Bitcoin Trust ETF (GBTC) took home $37,000.
The bank has also shown interest in Ethereum spot ETFs, investing in the Grayscale Ethereum Trust ETF (ETHE), the iShares Ethereum Trust ETF (ETHA), the Fidelity Ethereum Fund (FETH), and the Grayscale Ethereum Mini Trust ETF (ETH).
JPMorgan Chase’s move to expand its ETF portfolio aligns with other financial powerhouses, such as Goldman Sachs, which are also increasing their stakes in Bitcoin ETFs. In its latest SEC filing, Goldman Sachs revealed it now holds $1.27 billion in BlackRock’s iShares Bitcoin Trust ETF (IBIT) and a $288 million stake in Fidelity Wise Origin Bitcoin ETF (FBTC). The bank’s Bitcoin ETF holdings have risen dramatically, witnessing an 88% rise in IBIT shares and a 105% rise in its FBTC position in the last quarter.
However, this increase in institutional investment hasn’t positively impacted digital asset funds. In 2025, these funds recorded their first significant withdrawal, with investors removing $415 million from crypto funds last week. Most of these outflows came from Bitcoin-based products, such as spot ETFs, which saw net withdrawals of $430 million.
Speaking on this matter, James Butterfill, Head of Research at CoinShares, pointed out that Federal Reserve Chairman Jerome Powell’s cautious stance on interest rate cuts triggered the sell-off. Powell’s assertion that the U.S. central bank need not rush to cut rates has heightened investor concerns that a more relaxed monetary policy may take longer than anticipated.
Despite these short-term challenges, JPMorgan continues to expand its Bitcoin and Ethereum ETF portfolio strategically, aligning itself with prevailing institutional investment trends. This move underscores the bank’s commitment to digital assets, even as the market navigates through uncertain times.
