Major banks increase cryptocurrency ETF holdings in Q2

Major financial institutions have significantly adjusted their cryptocurrency ETF holdings according to recent SEC 13F filings for the second quarter.

JPMorgan Chase reported a 25% increase in its holdings of BlackRock’s iShares Bitcoin Trust (IBIT), totaling approximately 10.4 million shares valued at $355.7 million. The bank also saw a 338% surge in its Ethereum ETF exposure through BlackRock’s iShares Ethereum Trust (ETHA) and re-entered XRP-related positions via Grayscale and Bitwise funds.

Morgan Stanley increased its IBIT share count by 23% to 16.5 million shares, worth roughly $549 million, despite a decline in the position's total dollar value due to market fluctuations. The bank also launched its own Morgan Stanley Bitcoin Trust (MSBT), which saw $371.1 million in gross share contributions during its first 85 days of trading. Additionally, Morgan Stanley expanded its Ethereum exposure by approximately 202%.

UBS demonstrated a dramatic shift in strategy by increasing its Bitcoin ETF call options 24-fold, rising from 80,000 to 1.95 million contracts, while its direct spot holdings saw more modest growth. Meanwhile, Harvard Management Company maintained its IBIT position at approximately $101.4 million, opting to hold its Bitcoin exposure steady while shifting focus toward gold products.