JPMorgan Doubles Bitcoin ETF Stake as Corporate Crypto Holdings Face Losses

JPMorgan significantly expanded its investment in Bitcoin ETFs, boosting its stake by 64% to $343 million during the third quarter. This move follows a period of steep losses for many corporate crypto holdings. The rise in JPMorgan’s Bitcoin ETF position contrasts with falling valuations across various digital assets like XRP, Bitcoin, and Ethereum, which have contributed to substantial unrealized losses for major companies. Despite this downturn, institutional investors continue to accumulate Bitcoin-based products across financial institutions, indicating ongoing engagement in the rapidly evolving cryptocurrency landscape.