JPMorgan Clients Lifted Spot Bitcoin ETF Holdings in Q3

The bank disclosed ownership of nearly 5.3 million shares of IBIT as of September 30, up 64% from the previous quarter.

• JPMorgan reported ownership of nearly 5.3 million shares of BlackRock’s spot bitcoin ETF (IBIT) worth $343 million at the end of the third quarter.
• That’s up 64% from the number of shares held one quarter earlier.

JPMorgan’s brokerage clientele lifted their bets on bitcoin in the third quarter, with the bank — in a regulatory filing Friday — disclosing ownership of 5.284 million shares of BlackRock’s iShares Bitcoin ETF (IBIT) as of Sept. 30.

Those shares were worth $343 million as of the end of the quarter. The bank held 3.2 million shares worth $302.6 million as of the end the second quarter.

The bank earlier this week put out a bullish note on bitcoin, suggesting the price could reach $170,000 within 12 months from the current $102,000.