JPMorgan Chase purchased $400 million worth of BlackRock’s iShares Bitcoin Trust ETF (IBIT) during the second quarter of 2026, bringing its total position to 17.8 million shares worth approximately $650 million. The bank demonstrated a significant acceleration in accumulating these securities, growing from 3 million shares at the end of 2025 to 8.3 million in Q1 2026 and 17.8 million by Q2. This buying strategy notably unfolded during a period when Bitcoin’s price dropped by over 22 %, with the bank purchasing at institutional scale while retail investors were selling in panic. JPMorgan also reported record net income of $21.2 billion in Q2 2026, with total managed revenue of $58 billion, up 27 % year-over-year. BlackRock’s IBIT, the dominant spot Bitcoin ETF by assets under management, exceeded $47 billion in net assets as of August 11, 2026.
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