JPMorgan Increases Stake in MicroStrategy and Bitcoin ETFs

JPMorgan Chase increased its position in MicroStrategy by 36% during the third quarter. The bank now holds 848,932 shares of the company, totaling $131.3 million as of September 30. This move occurred weeks before the company's departure from the MSCI index.

The financial institution also reinforced its direct exposure to the crypto asset market. The report points to the ownership of 11.4 million shares of BlackRock's IBIT fund, valued at $540 million. This volume represents a 9.6% growth compared to the previous quarter.

Beyond IBIT, the bank's portfolio includes smaller stakes in other spot index funds. Among them are the Grayscale Bitcoin Mini Trust and the Bitwise Bitcoin ETF. Combined, the Bitcoin ETF assets under the bank's custody reached approximately $549 million.

The official document, signed by executive director Michael T. Lees, also details a complex options structure. The bank reported call and put contracts for both MicroStrategy shares and IBIT fund units. These operations involve significant values that in some cases exceed the amount invested directly in the shares.

The report consolidates positions from 17 different managers linked to the institution. The total value listed in the document covers 35,990 entries, totaling $1.84 trillion. The bank notes that the holdings may include client assets and discretionary funds.