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JPMorgan Goes All-In With Bitcoin
US investment banking giant JPMorgan Chase has increased its holding of BlackRock’s iShares Bitcoin Trust (IBIT) by 68% in a strong show of support for the premier cryptocurrency. According to a recent 13F filing with the SEC, JPMorgan now holds 5,284,190 shares of IBIT, a significant increase from its 3.21 million shares disclosed at the end of June.
At $58.99 per share, JPMorgan’s IBIT holdings are valued at approximately $343 million, indicating a growing appetite for Bitcoin exposure among a leading global bank. According to the latest filing, JPMorgan disclosed significant options activity, with the bank reporting $68 million in call options and $133 million in put options on the ETF for hedging purposes.
The filings suggest that JPMorgan’s IBIT holdings cover all banking divisions and include the holdings of high-net-worth clients. Previously, JPMorgan had predicted that the Bitcoin price would reach $170,000 by the end of 2026, justifying its pivot to the asset that it had once heavily criticized.
Amid the reports, Binance founder Changpeng Zhao (CZ) highlighted that institutional players are now turning their gaze to Bitcoin. CZ predicted that retail traders have the option to accumulate Bitcoin at a discount before institutional players or purchase it at a premium after traditional finance takes up positions.
 
“Conversion,” remarked CZ in an X post. “You can buy before or after they buy more.”
Faltering Bitcoin Price Trigger Losses For Corporate Treasuries
CoinMarketCap data reveals that Bitcoin is trading at $ 103,000, down nearly 2% from its all-time high of $ 126,000, which it set roughly a month ago. Bitcoin’s decline appears to have far-reaching consequences, with leading corporate treasuries incurring substantial unrealized losses on their holdings.
Amid the barrage of unrealized losses, the stock prices of leading Bitcoin corporate treasuries have also taken a hit. Japan-based Metaplanet has seen its stock tumble by nearly 80% from its peak, while Strategy’s MSTR has had its own fair share of steep declines.
Despite the falling prices, Metaplanet and Strategy are continuing their accumulation trend, with their sights on Bitcoin’s long-term price performance. Meanwhile, IBIT has since become BlackRock’s most profitable fund, holding nearly 800,000 BTC worth nearly $80.3 billion in notional value.