JP Morgan, a global leader in financial services, has increased its investment in BlackRock’s IBIT Bitcoin ETF during the first quarter of 2026, raising its holdings to 8.3 million shares, up 175% from the last quarter.
The move came as Bitcoin ETFs saw $635 million in outflows on May 13, showing many investors were selling while JPMorgan was quietly buying more.
According to its latest SEC Form 13F filing, JPMorgan increased its holdings in BlackRock’s iShares Bitcoin Trust (IBIT) from roughly 3 million shares at the end of December 2025 to nearly 8.3 million shares in Q1 2026. The move shows an increase of approximately 175%.
Based on filing data, the additional exposure added nearly $162 million in value during the quarter, even while Bitcoin itself dropped more than 22% during the same period.
However, at current market prices, JPMorgan’s IBIT position is estimated to be worth roughly $390 million to $400 million.
The filing also showed overall expansion into crypto-linked assets, including additional exposure to Ethereum, Solana, mining-related equities, and other digital asset investment products.
The latest filing is especially notable because JPMorgan CEO Jamie Dimon has historically been one of Bitcoin’s biggest critics on Wall Street.
Dimon famously called Bitcoin a “fraud” and “scam” in previous years while repeatedly criticizing cryptocurrencies publicly.
However, despite the criticism, JPMorgan has steadily expanded crypto-related services since 2020.
JPMorgan also increased its exposure across several other Bitcoin ETF products. Its holdings in the Fidelity Investments Wise Origin Bitcoin Fund (FBTC) rose roughly 450%, while exposure to the Bitwise Bitcoin ETF (BITB) surged nearly 900%.
Meanwhile, the bank’s position in the ProShares Bitcoin Strategy ETF (BITO) jumped more than 3,000%, though BITO tracks Bitcoin futures instead of spot BTC directly.
The aggressive expansion comes during one of crypto’s most volatile periods in 2026, suggesting major institutions may be viewing current Bitcoin prices as long-term accumulation opportunities rather than warning signs.
Despite recent ETF outflows and BTC price failing below $80K the broader institutional trend still appears heavily focused on building long-term Bitcoin exposure through regulated investment products.
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