JPMorgan reports 25% more IBIT shares and over fourfold jump in ETHA holdings in Q2; filing omits short exposure

JPMorgan's Form 13F, filed Wednesday, aggregates 17 investment managers, so positions may reflect client activity and inventory rather than directional bets, analyst Jonatan Randin of PrimeXBT cautioned. The filing also excludes shorts, obscuring net exposure. IBIT shares rose to about 10.4 million (worth roughly $356 million) from 8.3 million, while ETHA more than quadrupled to 1.17 million from 267,000. JPMorgan also disclosed small XRP product holdings—181 Grayscale shares and 113 Bitwise shares—which Randin tied to regulatory progress, and trimmed Bitcoin miners, now less clean BTC proxies.

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