JPMorgan's 13F Shows 36% Larger Strategy Stake, $540M of IBIT in Q3

Key Facts

• JPMorgan reported 848,932 Strategy shares worth $131.3 million as of Sept. 30, up 36% from 624,387 shares at the end of June.

• It reported 11.41 million shares of BlackRock's iShares Bitcoin Trust worth $540 million, up from 10.41 million shares worth $355.7 million.

• The filing also lists put options on Strategy covering 1.15 million shares, larger than the bank's common stock position.

JPMorgan reported 848,932 Strategy shares worth $131.3 million as of Sept. 30, up 36% from 624,387 shares at the end of June.

It reported 11.41 million shares of BlackRock's iShares Bitcoin Trust worth $540 million, up from 10.41 million shares worth $355.7 million.

The filing also lists put options on Strategy covering 1.15 million shares, larger than the bank's common stock position.

The bank reported 848,932 shares of Strategy common stock worth $131.3 million as of Sept. 30, up from 624,387 shares worth $57.9 million at the end of June.

IBIT Holding Grows

JPMorgan held 11.41 million shares of the iShares Bitcoin Trust, or IBIT, worth $540 million, up from 10.41 million shares worth $355.7 million at the end of June. That is a 9.6% increase in shares, while the value of the position rose by about 52%.

The bank also reported IBIT call options covering 3.7 million shares, with an underlying value of $175.3 million, and puts covering 2.9 million shares, with an underlying value of $138 million.

Strategy Puts Outweigh Common Stock

A 13F does not say whether positions are held for clients, for the bank's own account or as hedges. JPMorgan also reported 1.58 million Coinbase shares worth $300.6 million.