JPMorgan Chase held about $981 million in cryptocurrency assets and industry-related securities as of September 30, 2026, according to a quarterly Form 13F report filed with the U.S. Securities and Exchange Commission. The disclosure shows the scale of the bank’s presence in the crypto sector despite Chief Executive Jamie Dimon’s repeated criticism of bitcoin.

Including holdings in Robinhood and bitcoin mining companies, the disclosed positions could exceed $1 billion. However, a 13F filing does not necessarily show that JPMorgan expects the securities to rise, because financial institutions may hold them to hedge risks or facilitate client transactions.

Bitcoin ETFs, Coinbase and Strategy

Spot bitcoin exchange-traded funds accounted for the largest portion of the disclosed positions, at about $549 million. JPMorgan held about 11.4 million shares of BlackRock’s iShares Bitcoin Trust, or IBIT, valued at roughly $540 million.

The number of IBIT shares increased by 9.6% from the previous quarter, while the position’s value rose from about $356 million. JPMorgan also disclosed smaller stakes in bitcoin funds managed by Grayscale and Bitwise.

Coinbase was the second-largest position among crypto companies, with JPMorgan’s stake in the cryptocurrency exchange valued at about $301 million.

The bank also increased its holdings in Strategy, Michael Saylor’s company, which uses bitcoin as its primary reserve asset. JPMorgan’s Strategy holdings rose by 36% during the quarter, from 624,387 shares to 848,932 shares. The position was worth about $131.3 million at the end of September, compared with $57.9 million at the end of June.

Other disclosed assets included shares of Robinhood and bitcoin miners Core Scientific and Hut 8, as well as options linked to IBIT and Strategy. The filing reflects JPMorgan’s portfolio only as of September 30 and does not account for subsequent changes.

Dimon’s criticism and the bank’s outlook

Dimon has repeatedly called bitcoin worthless and compared the crypto industry to fraud. At the same time, JPMorgan has gradually expanded its presence in the digital-assets sector.

JPMorgan Asset Management included bitcoin in its long-term asset-return outlook through 2027. In its base case, the investment arm expects bitcoin to produce a compound annual return of 10% over the next decade, with projected volatility of 55%. The outlook also puts bitcoin’s correlation with large-cap U.S. equities at 33%, which could make it a portfolio-diversification tool.

Market conditions deteriorate

The September portfolio snapshot preceded a downturn in crypto markets. Spot bitcoin ETFs recorded $1.07 billion in outflows from November 9 through November 13, while Ethereum ETFs lost $398.85 million over the same period.

During the sell-off, bitcoin fell to nearly $62,000 and crypto-market liquidations reached $1.96 billion in a single day. The Fear and Greed Index declined to 12, a reading corresponding to “extreme fear.”

Source: Incrypted