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JPMorgan’s Bitcoin and Crypto-Linked Holdings Approach $1 Billion

JPMorgan’s Bitcoin and Crypto-Linked Holdings Approach $1 Billion

JPMorgan Chase, whose CEO has spent years deriding crypto, is now sitting on close to $1 billion worth of crypto-linked stocks and funds, a regulatory filing shows, after the bank deepened those positions in the third quarter.

Adding up the disclosures in JPMorgan’s quarterly 13F, the form large institutional managers must file with the Securities and Exchange Commission to report their holdings, the bank held roughly $981 million across spot Bitcoin ETFs, Michael Saylor’s Strategy, and crypto exchange Coinbase as of Sept. 30.

Counting its stakes in Robinhood and Bitcoin miners, the total likely tips past $1 billion.

The largest piece is BlackRock’s iShares Bitcoin Trust, or IBIT, where JPMorgan…

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