JPMorgan Chase Bank held cryptocurrency assets and industry-related securities worth about $981 million as of September 30, 2026. This is evidenced by the quarterly 13F report filed by the bank with the U.S. Securities and Exchange Commission (SEC).
Taking into account investments in Robinhood and bitcoin mining companies, the total amount may exceed $1 billion. The disclosure demonstrates the scale of one of the largest US banks' presence in the crypto market, despite skeptical statements by its CEO Jamie Dimon regarding bitcoin.
Which crypto assets is JPMorgan betting on?
The largest portion of the disclosed positions falls on spot Bitcoin ETFs — about $549 million. The main share in this category is iShares Bitcoin Trust (IBIT) from BlackRock: JPMorgan held approximately 11.4 million shares of the fund worth about $540 million.
Compared to the previous quarter, the number of shares increased by 9.6%, and the position's valuation — from approximately $356 million. The bank also held smaller stakes in the Grayscale and Bitwise bitcoin funds.
Coinbase holds the second significant position among crypto companies. The value of the crypto exchange's share package was about $301 million.
At the same time, JPMorgan increased its investment in Strategy — Michael Saylor's company, which uses bitcoin as its main reserve asset. During the quarter, the number of its shares in the bank's portfolio grew by 36% — from 624,387 to 848,932. The value of this position at the end of September was approximately $131.3 million versus $57.9 million at the end of June.
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Among the other disclosed assets are shares of Robinhood, miners Core Scientific and Hut 8, as well as options related to IBIT and Strategy.
At the same time, a 13F report does not necessarily indicate that the bank is betting on further growth of these assets. Financial institutions may hold securities to hedge risks or service client transactions. In addition, the document reflects the portfolio only as of September 30 and does not take subsequent changes into account.
Bank's crypto positions amid market downturn
The portfolio disclosure draws attention against the backdrop of the contrast between JPMorgan management's attitude toward bitcoin and the bank's own actions. Jamie Dimon has repeatedly called the first cryptocurrency worthless and compared the crypto industry to fraud. At the same time, JPMorgan is gradually expanding its presence in the digital assets sector.
At the same time, the investment division of JPMorgan Asset Management included bitcoin in its long-term asset return forecast for 2027. In the base case, the company expects an average annual compound return of the first cryptocurrency at 10% over the next decade with projected volatility of 55%. The forecast also notes that bitcoin's correlation with large American company stocks is 33%, which could make it a portfolio diversification tool.
At the same time, the September snapshot of investments preceded a deterioration in the market situation. During the week from November 9 to 13, outflows from spot Bitcoin ETFs amounted to $1.07 billion. For comparison, Ethereum ETFs lost $398.85 million over the same period.
Against the backdrop of the sell-off, bitcoin dropped to almost $62,000, and liquidations in the crypto market reached $1.96 billion in a day. The Fear and Greed Index fell to 12 points, which corresponds to the extreme fear zone.