JPMorgan Chase has increased its exposure to spot Bitcoin ETFs (exchange-traded funds) as investors pulled more than $500 million from the investment products.
According to the latest data from the company Form 13-F filing Together with the U.S. Securities and Exchange Commission (SEC), JPMorgan has added an additional 2.07 million shares of BlackRock’s iShares Trust (IBIT) through the end of September, for a total of 5.28 million shares.
JPMorgan’s stake in IBIT represents a 64% increase from the number of shares the company owned in June. The stake was also valued at $333 million at the end of the quarter, but is now worth about $312 million.
JPMorgan isn’t the only major bank with exposure to BlackRock’s Bitcoin ETF. Others, including Goldman Sachs and Millenium Management, also have exposure to the product, but much greater than JPMorgan’s exposure to the product.
Bitcoin ETFs Lose Over $500 Million
JPMorgan’s disclosure was made on the same day investors pulled $558.4 million from US spot Bitcoin ETFs. The day before, the funds had seen net daily inflows of $239.9 million, ending a six-day net outflow streak, data from Farside Investors.
(𝗨𝗦$ 𝗺𝗶𝗹𝗹𝗶𝗼𝗻) – 07-11-2025
TOTAL NET FLOW: -558.4
GO: -131.4
FBTC: -256.7
BITB: -10.7
ARKB: -144.2
VAT: 0
EZBC: 0
BRRR: 0
HODL: 0
VAT: 0
GBTC: -15.4
Bitcoin: 0For full details and disclaimers, visit:https://t.co/Wg6Qpn0Pqw
— Farside Investors (@FarsideUK) November 8, 2025
Fidelity’s FBTC product led the outflows in the last trading session, with $256.7 million leaving the product. The next largest outflow was suffered by Ark Invest’s ARKB.
Meanwhile, BlackRock’s IBIT, the largest spot Bitcoin ETF in terms of cumulative inflows, saw $131.4 million disappear from its reserves yesterday. Bitwise’s BITB and Grayscale’s GBTC also saw outflows of $10.7 million and $15.4 million respectively on the day.
Bitcoin is rebounding after falling below $100,000
The outflows seen in US spot Bitcoin ETFs yesterday coincided with a BTC price drop below $100,000. Data from CoinMarketCap shows that the leading crypto has fallen to $99,257.06 in the past 24 hours. Investors appeared to have bought the dip, as BTC is trading at $102,270.89 as of 2:25 a.m. EST.
Although the crypto managed to recover from the brief price drop, it is still 7% lower than the weekly time frame. BTC is also over 16% in the red on the longer-term monthly time frame.
Daily chart for WBTC/USD (Source: GeckoTerminal)
Looking at the daily chart for BTC, indicators show that momentum is still in favor of sellers. In particular, the short-term Exponential Moving Averages (EMAs), the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are still bearish.
However, there are signs that the bearish momentum is weakening somewhat. For example, the RSI has stabilized in the high 30s. This could be the harbinger of a change in the power dynamics between bears and bulls.
Meanwhile, the MACD histogram is starting to turn more positive, which could be an early sign of bears easing their pressure on BTC’s price.
If traders respond to the early signals from the MACD and RSI, Bitcoin will still have to overcome the barriers of the 9 and 20 EMAs.
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