JPMorgan Reveals $540 Million in BlackRock's Bitcoin ETF as of Sept. 30

By Kevin · 2026-11-14 · News

Nov. 14 (CandyPulse) — While smaller investors were pulling money out of Bitcoin funds this week, a filing showed what America's biggest bank was holding. JPMorgan reported about $540 million in BlackRock's spot Bitcoin ETF at the end of September, up from the quarter before.

Key takeaways

JPMorgan's quarterly 13F filing shows 11,408,930 shares of BlackRock's iShares Bitcoin Trust (IBIT), worth $539.98 million on Sept. 30
That's a 9.6% increase in shares from the previous quarter, when the position was worth about $356 million
The filing also lists IBIT call options on about 3.7 million shares and put options on about 2.9 million shares
With stakes in Strategy and Coinbase, total Bitcoin-linked exposure is close to $1 billion, by one count
It's a snapshot. Holdings are as of Sept. 30 and may have changed since

The filing at a glance

Item	Reported
Fund	iShares Bitcoin Trust (IBIT), BlackRock
Shares held	11,408,930
Value on Sept. 30	$539.98 million
Change in shares	+9.6% on the quarter
Previous quarter's value	About $356 million
IBIT call options	About 3.7 million shares ($175.27 million)
IBIT put options	About 2.9 million shares ($137.97 million)
Filed	Nov. 12

What a 13F is, and what it isn't

Large U.S. investment managers must file a 13F every quarter listing their stock and ETF holdings. It's one of the few windows into what big institutions own.

Two cautions keep it honest:

It's old by the time you read it. These numbers are from Sept. 30. Bitcoin has fallen sharply since, and the bank may have bought or sold.
It isn't necessarily the bank's own bet. A bank's 13F covers positions held across its businesses, including for clients and for market-making. The options lines point the same way: holding both calls and puts is typical of trading and hedging activity, not a simple wager that the price will rise.

So the accurate reading is "JPMorgan's clients and desks held more Bitcoin ETF exposure", not "JPMorgan is bullish on Bitcoin".

Why it still matters

The direction is notable. In one quarter, the position grew by nearly a tenth in shares and by more than half in dollar value. Bitcoin exposure through a regulated fund has become a routine line in a major bank's filing, which would have been hard to imagine a few years ago. It fits a wider pattern this week, including Deutsche Bank switching on crypto custody.

The awkward timing

The filing lands in a rough month. Spot Bitcoin ETFs have seen $1.44 billion of outflows in five days, led by the same fund, IBIT, and Bitcoin has broken below $70,000. We won't know whether institutions like JPMorgan held, added or sold through that drop until the next round of filings in February.

What's next

More third-quarter 13F filings from banks, hedge funds and pension funds are arriving this month. Together they show how widely Bitcoin ETFs are held. If terms like "13F" or "put option" are new, see our crypto glossary.

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Disclaimer: This article is for information only and is not financial advice. Market figures move quickly and different data providers can show slightly different numbers. Always do your own research before making any investment decision.