JPMorgan Increases MicroStrategy Stake 36%, Holds $540M in Bitcoin ETFs

JPMorgan Bitcoin ETFs — JPMorgan Chase increased its stake in MicroStrategy (MSTR) by 36% in Q3 and reported holding approximately $540 million worth of BlackRock’s iShares Bitcoin Trust (IBIT), according to a Form 13F filing submitted Thursday.

The bank’s disclosed position in MicroStrategy rose to 848,932 shares, valued at $131.3 million as of September 30. This represents an increase of 224,545 shares from the prior quarter. The filing also shows JPMorgan held 11,408,930 shares of IBIT worth $539.98 million at the quarter’s end, a 9.6% increase in share count from Q2.

The bank reported smaller holdings in other spot Bitcoin ETFs, including Grayscale’s Bitcoin Mini Trust and the Bitwise Bitcoin ETF. Combined with the IBIT stake, its total spot Bitcoin ETF holdings amounted to roughly $549 million. The filing also lists substantial call and put options on both IBIT and MicroStrategy shares.

The positions, filed on behalf of JPMorgan and 17 other included managers, can include client and fund holdings and may have changed since the September 30 snapshot. The filing comes as MicroStrategy shares have declined following an MSCI index deletion announcement, and Bitcoin trades below $72,000.