Bitcoin Magazine

JPMorgan Just Boosted its Bitcoin ETF Holdings by 64%

JPMorgan disclosed a sharp increase in its holdings of the Bitcoin ETF IBIT, signaling rising institutional interest in cryptocurrency exposure. 

According to 13F filings, the bank reported holding 5,284,190 shares of IBIT, valued at $343 million as of September 30. 

This marks a 64% increase from its previous disclosure of 3,217,056 shares as of June.

The filing also revealed that JPMorgan holds IBIT options, including $68 million in call options and $133 million in puts. 13F filings aggregate holdings across all bank divisions, including high-net-worth clients, meaning these positions may not be limited to the bank’s own balance sheet.

JUST IN: JP Morgan reported holding 5,284,190 shares of #Bitcoin ETF IBIT worth $343 million, a 64% increase from the previous disclosure. pic.twitter.com/nccPXk0krX

— Bitcoin Magazine (@BitcoinMagazine) November 7, 2025

Bitcoin itself has remained volatile in recent months, hovering just above $100,000, but institutional flows like JPMorgan’s ETF holdings underscore confidence in its long-term prospects. 

The bank’s sizable purchase also coincides with renewed interest in regulated investment vehicles, such as ETFs.

JPMorgan’s bitcoin embrace

JPMorgan analysts recently said that Bitcoin now appears undervalued relative to gold after a sharp October sell-off pushed its price down more than 20% from its recent record high of $126,000. 

The decline was driven by leveraged liquidations in the futures market and market anxiety following a $128 million Balancer hack. 

According to analyst Nikolaos Panigirtzoglou of JPMorgan, the ratio of open interest in perpetual futures to Bitcoin’s market cap has since normalized, signaling that most excess leverage has been flushed out.

The bank’s analysis also shows Bitcoin is trading at a discount to gold when adjusting for volatility. As gold prices climbed above $4,000 per ounce, its volatility rose, while Bitcoin’s has eased. 

To reach parity with gold’s private-sector investment value on a risk-adjusted basis, analysts estimate Bitcoin would need to rise toward $170,000 — roughly two-thirds higher than recent levels.

JPMorgan forecasts “significant upside” over the next six to twelve months if current conditions persist, reinforcing the case for Bitcoin as an alternative or accomplice to gold as a risk-averse asset.

At the same time, JPMorgan is preparing to let institutional clients use Bitcoin as collateral for loans by the end of 2025, expanding beyond its current acceptance of crypto-linked ETFs. 

At the time of writing, Bitcoin is price near $100,000 at $101,290 per Bitcoin Magazine Pro data. Earlier this quarter in October, Bitcoin hit an all-time high above $126,000. The price is down roughly 20% from all-time highs.

This post JPMorgan Just Boosted its Bitcoin ETF Holdings by 64% first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

JPMorgan to Accept Bitcoin as Loan Collateral by Year-End

JPMorgan Chase plans to let institutional clients use Bitcoin (BTC) and Ethereum (ETH) as collateral for loans by the end of 2025, according to a Bloomberg report. 

The new program, expected to roll out globally, will rely on a third-party custodian to safeguard pledged assets. The bank already allows crypto-linked exchange-traded funds (ETFs) as collateral, but this expansion would enable clients to borrow against their direct crypto holdings.

The shift could make it easier for institutions to access liquidity without selling long-term digital asset positions — a use case that has gained traction among hedge funds and family offices.

The development represents a broader acceptance of digital assets across the financial sector.  Other major banks, including Morgan Stanley, BNY Mellon, State Street, and Fidelity, have been expanding crypto custody and trading services amid increasing regulatory clarity in the U.S. and abroad.

JPMorgan first began exploring lending against Bitcoin in 2022 but the project was delayed, according to Bloomberg.

Jamie Dimon’s changing tone on crypto

JPMorgan CEO Jamie Dimon has long been one of crypto’s most vocal skeptics, previously calling Bitcoin a “fraud” and a “pet rock.” In 2023, he said he was “deeply opposed” to Bitcoin and claimed it was used mainly for illicit activity.

However, his tone has recently softened. “I don’t think we should smoke, but I defend your right to smoke,” Dimon said earlier this year. “I defend your right to buy Bitcoin, go at it.”

In 2023, JPMorgan CEO Jamie Dimon said he was "deeply opposed" to Bitcoin and that it was for criminals.

Today, JPMorgan plans to allow institutional clients to use Bitcoin as collateral. pic.twitter.com/WMPg8qy9UW

— Bitcoin Magazine (@BitcoinMagazine) October 24, 2025

Despite Dimon’s reservations, JPMorgan has steadily increased its crypto exposure. The bank has launched the J.P. Morgan Deposit Token (JPMD) — a blockchain-based alternative to stablecoins — and expanded its Kinexys blockchain network, which now processes more than $2 billion in daily transactions across carbon markets, supply chain finance, and cross-border payments.

Bitcoin and Ethereum prices rise

Following the news, Bitcoin rose in the past 24 hours to trade above $111,000, while Ethereum gained 2% to hover just below $4,000, according to Bitcoin Magazine Pro data.

Back in July, JPMorganChase and Coinbase announced a strategic partnership to make Bitcoin and crypto access easier for their customers. 

The deal included a direct bank-to-wallet connection, the ability to redeem Chase Ultimate Rewards points for crypto, and credit card funding for Coinbase accounts. Both the bank-to-wallet and rewards features were set to launch in 2026. 

This post JPMorgan to Accept Bitcoin as Loan Collateral by Year-End first appeared on Bitcoin Magazine and is written by Micah Zimmerman.