JPMorgan Boosts Bitcoin, Ether ETF Stakes in Q2

The U.S. Securities and Exchange Commission approved the first spot Bitcoin ETFs on January 10, 2024, allowing institutions to gain exposure through regulated securities without holding the tokens directly. JPMorgan Chase’s 13F holdings have therefore become an important gauge of Wall Street’s appetite, although the reported positions may also include assets held for clients or market-making activities.

JPMorgan filed its 13F on May 13. As of March 31, 2026, its stake in BlackRock’s IBIT had risen 174% quarter on quarter, from about 3 million shares to 8.3 million, increasing the reported value by roughly $162 million. It also disclosed an initial purchase of 47,460 shares in Bitwise’s BSOL, worth $523,000, and raised its holding in BlackRock’s ETHA by 36% to 266,734 shares.

The U.S. Securities and Exchange Commission’s Form 13F requires large institutional investment managers to disclose their U.S. equity holdings quarterly. Spot crypto ETFs allow traditional financial institutions to gain price exposure without directly holding tokens. As of March 31, 2026, Wells Fargo held about $21.5 million in Ether ETFs, a position that remained small compared with roughly $250 million in BlackRock’s IBIT Bitcoin ETF but continued to grow.

Wells Fargo’s first-quarter 13F, filed on May 11, 2026, showed that its holdings of BlackRock’s ETHA rose 63.5% quarter on quarter, from about 672,600 shares to 1.1 million shares, valued at approximately $17.6 million at the end of the period. Its Bitwise ETHW holdings increased 37%, from 186,800 shares to more than 257,000. Its Bitcoin ETF positions were mixed: the bank slightly reduced its stake in BlackRock’s IBIT while increasing its holdings of Bitwise’s BITB and Grayscale’s BTC by about 24% and 41%, respectively.