- JPMorgan raised its Bitcoin ETF holdings by 64% showing steady institutional demand for digital assets.
- Corporate treasuries face steep unrealized losses as crypto prices continue to slide across major tokens.
- Despite market pain several firms keep adding Bitcoin and Ethereum showing strong long term confidence.
U.S. banking giant JPMorgan has expanded its position in the BlackRock Bitcoin ETF (IBIT), signaling continued institutional interest. A new 13F filing shows the bank now holds 5.28 million IBIT shares, valued at about $343 million as of September 30. The stake reflects a 64% increase from 3.21 million shares reported in June.
The filing also discloses significant options activity linked to the ETF. JPMorgan holds $68 million in IBIT call positions and $133 million in put positions. These allocations span multiple divisions and include exposure tied to high-net-worth clients. The report follows the bank’s forecast that Bitcoin could reach $170,000 within the next year.
Despite the market slowdown, the data suggests institutional engagement with Bitcoin products remains firm. The increase highlights a growing preference among large financial entities for regulated crypto investment avenues. However, the timing coincides with steep paper losses across several corporate treasury portfolios.
Corporate Crypto Holdings Face Sharp Value Drops
CryptoQuant data indicates that corporate crypto holdings have suffered substantial value declines as token prices continue to slide. Evernorth, a major entrant in the sector, is experiencing one of the steepest losses. The firm acquired roughly 388.7 million XRP for about $947 million only two and a half weeks ago. That position is now worth around $868 million, reflecting an unrealized loss of nearly $79 million.
The decline in XRP value has deepened as the token trades near the lower end of its recent price range. Other major corporate holders are also under pressure. MicroStrategy’s equity value has dropped 53%, mirroring Bitcoin’s downturn. Its share price remains closely tied to the company’s massive BTC reserves, amplifying the effect of every market fluctuation.
Corporate Treasuries Keep Buying Despite Market Pain
While valuations are falling, several corporate players continue to accumulate digital assets. Metaplanet, a listed Bitcoin holder, maintains 30,823 BTC purchased at an average price of $106,000. Its unrealized loss now nears $120 million, and its stock has plunged almost 80% from peak levels.
Bitmine’s exposure also widened after it added 442,000 ETH following the October 10 selloff. The firm now faces an unrealized loss of around $2.1 billion.
Even so, accumulation has not stopped. Strategy, a firm linked to Michael Saylor, recently added 397 BTC to its holdings. Meanwhile, Sharplink Gaming, an Ethereum treasury company, remains optimistic and expects the token’s price to recover faster than broader market averages. Overall, institutional confidence appears steady despite deep short-term losses across corporate crypto treasuries.
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