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JPMorgan increases stake in BlackRock's IBIT
JPMorgan Chase significantly expanded its exposure to spot Bitcoin exchange-traded funds, lifting its holdings by roughly 64% as of the end of Q3 2025. The bank's recent buying centers on IBIT, BlackRock's iShares Bitcoin Trust, which remains the largest spot Bitcoin ETF by assets under management.
Details from filings and market data
According to a Form 13F-HR filed on Nov. 7 and analyzed by Fintel, JPMorgan added 2,067,134 IBIT shares, taking its total to 5,284,190 as of Sept. 30, 2025. That represents a 64.26% increase from the previously reported 3,217,056 shares and values the bank's position at about $343 million, up from roughly $302 million in the prior report. Data aggregators SoSoValue and others show IBIT now manages over $80 billion in net assets and has accumulated more than $64.5 billion in cumulative net inflows.
Context: ETF flows and Bitcoin price action
JPMorgan's disclosed buying comes as U.S. spot Bitcoin ETFs halted a short outflow streak. On Nov. 6, the sector recorded $240 million in net inflows, with IBIT leading the group at just over $112 million. Those inflows ended a six-day run of redemptions that saw more than $2 billion leave U.S. spot Bitcoin ETFs from Oct. 29 to Nov. 5.
The outflows coincided with volatility in Bitcoin price. Between Oct. 28 and Nov. 5, BTC slid from highs above $116,000 to intraday lows near $98,900, extending pressure that began after the Oct. 10 market downturn. Despite the pullback, Bitcoin remained close to the $100,000 mark, trading around $102,569 at the time of writing.
Strategic implications and JPMorgan outlook
JPMorgan reaffirmed its institutional stance on crypto earlier in the year, announcing in June that it would accept Bitcoin ETFs as collateral for certain activities. The bank also published a bullish medium-term forecast, suggesting Bitcoin could reach $170,000 within 6 to 12 months, a projection that helps explain the recent accumulation of IBIT shares.
As institutional adoption of spot Bitcoin ETFs increases, tracking filings, ETF flows, and price dynamics will remain essential for investors and market watchers monitoring the evolving relationship between traditional banks and crypto assets.
Source: crypto
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