JPMorgan has sharply expanded its positions in cryptocurrency-linked exchange-traded funds (ETFs) in the first quarter of 2026, even as digital asset prices declined. According to the US banking giant’s latest 13F filing, the firm made major increases, especially in Bitcoin and Ethereum-linked ETFs, underscoring its dynamic commitment to crypto investment products.
Significant surge in Bitcoin ETF investments
JPMorgan’s most notable increase came in BlackRock’s spot Bitcoin ETF, iShares Bitcoin Trust (IBIT). The bank’s holdings soared from around 3 million shares at the end of last year to 8.3 million shares by the end of Q1, marking a 174 percent increase. This translates into a fresh $162 million investment, demonstrating confidence despite Bitcoin itself losing 22 percent of its value during the same period.
The bank also sharply increased its position in Bitwise Bitcoin ETF (BITB), raising its share count from 4,872 to 48,258—a surge of almost 900 percent—and bringing the total value to roughly $1.51 million.
A similar trend appeared in the Fidelity Wise Origin Bitcoin Fund (FBTC), where holdings more than quadrupled to 22,196 shares, equating to nearly an additional $980,000 invested.
Moves in Ethereum and altcoin ETFs
JPMorgan’s activity wasn’t limited to Bitcoin. The bank boosted its exposure to Ethereum and other alternative cryptocurrencies through multiple ETF purchases. It increased its iShares Ethereum Trust (ETHA) shares by 36 percent, reaching 266,734 shares, and added further investments to the Bitwise Ethereum ETF (ETHW).
For the first time, JPMorgan opened a position in the Bitwise Solana Staking ETF (BSOL), acquiring 47,460 shares for an estimated $523,000 investment in Solana-linked assets.
Another highlight was the move in ProShares Bitcoin Strategy ETF (BITO), where JPMorgan grew its holdings from just 40 shares to 1,302, representing a gain of more than 3,000 percent.
Strategic shifts and a full pullout from XRP
However, JPMorgan pursued an opposite course with some other ETFs. The company liquidated its entire position in the Bitwise XRP ETF, selling all 3,870 shares previously held over the last quarter and fully exiting from XRP-related funds.
The banker’s changing approach extended beyond crypto ETFs. JPMorgan reduced its stakes in companies such as Robinhood Markets, Coinbase, Galaxy Digital, and Bitdeer Technologies Group, while increasing holdings in Block, MARA Holdings, Core Scientific, and PayPal.
The bank’s latest 13F disclosure shows that the surge in IBIT investment and complete exit from the XRP ETF reflect JPMorgan’s active and selective portfolio strategy in the crypto sector.
