JPMorgan Chase disclosed expanded positions in major US crypto exchange-traded funds in its second-quarter Form 13F filing with the Securities and Exchange Commission. The report, covering holdings as of June 30 and submitted in mid-August, lists increased stakes in BlackRock’s Bitcoin and Ether products along with new exposure to XRP-linked funds.

The filing aggregates positions across JPMorgan entities and 17 other investment managers. Analysts note that such disclosures can include client-related holdings and inventory, and they omit short positions, limiting insight into net exposure or any single directional market view.

Bitcoin ETF Position Expands

JPMorgan reported approximately 10.4 million shares of BlackRock’s iShares Bitcoin Trust ETF (IBIT). The stake was valued at roughly $355.7 million to $356 million. That compares with about 8.3 million shares in the prior quarter, when the position was valued near $162 million, representing a rise of about 25% in share count.

The bank’s options activity tied to IBIT also shifted. Call options increased to 3.94 million from 3.77 million, while put options declined to about 3.5 million from 4.75 million.

Ether Holdings More Than Quadruple

Exposure to BlackRock’s iShares Ethereum Trust ETF (ETHA) rose more sharply. Holdings climbed to about 1.17 million shares from roughly 267,000 in the first quarter. The position was valued at approximately $14.3 million, marking a more than fourfold increase or a 338% rise depending on the calculation used across reports.

The Bitcoin ETF holding remains substantially larger in value than the Ether position.

New XRP-Linked Positions Appear

JPMorgan reported initial or renewed small stakes in XRP investment products after showing none or having exited related holdings in the prior quarter. The filing lists 181 shares of a Grayscale XRP product valued at $3,763 and 113 shares of the Bitwise XRP ETF valued at $1,356.

Additional XRP-related exposure includes 19,894 shares of Armada Acquisition Corp II, a special-purpose vehicle linked to a Ripple-backed transaction and trading under the XRPN ticker, valued at about $207,295.

Randin connected the timing of the XRP positions to recent regulatory developments and the availability of spot XRP investment products in the United States.

Miner Positions Reduced

The bank trimmed holdings in several Bitcoin mining companies. Randin said some listed miners have expanded into artificial intelligence and high-performance computing, reducing their usefulness as straightforward proxies for Bitcoin price exposure.

Context of Broader ETF Flows

The increases in JPMorgan’s disclosed long positions occurred against a backdrop of fluctuating flows in the wider US spot Bitcoin ETF market. Recent daily data showed net outflows on certain sessions, including figures near $61 million on one August day, even as the bank’s quarterly snapshot pointed to higher holdings at the end of June.

Form 13F reports capture positions only as of the quarter-end date and do not detail the timing of individual transactions during the period. Subsequent filings, expected later in the year, will show whether the positions continued to change in the third quarter.

The disclosed figures provide a regulated snapshot of long equity and fund holdings rather than a complete picture of trading activity, hedges, or overall risk posture across the institution.