JPMorgan boosts MicroStrategy stake 36% and holds $540 million in Bitcoin ETFs ahead of MSCI index removal
JPMorgan Chase raised its MicroStrategy (MSTR) position to 848,932 shares, valued at $131.3 million as of September 30, a 36% increase from the prior quarter. The bank also expanded its Bitcoin ETF exposure, holding 11,408,930 shares of BlackRock’s iShares Bitcoin Trust (IBIT) worth $539.98 million. In addition, JPMorgan’s 13F shows put options covering 1,148,500 MSTR shares, a 60% rise, providing downside protection. The increase comes weeks before MSCI announced that MSTR will be removed from its U.S. and global indexes on November 30, which could trigger roughly $2.8 billion of forced sales by index funds.
Why it matters
The larger MSTR holding and protective put options increase JPMorgan’s exposure to the company and to Bitcoin, potentially amplifying price moves. Analysts note that MSCI’s removal could force index funds to sell about $2.8 billion of MSTR shares, adding pressure on the stock price. JPMorgan’s $540 million Bitcoin ETF position signals continued institutional interest in spot Bitcoin products.
Key facts
- 1JPMorgan held 848,932 MicroStrategy shares worth $131.3 million at September 30, a 36% increase from 624,387 shares worth $57.87 million at June 30. bitcoinmagazine.com
- 2The bank’s IBIT holding rose to 11,408,930 shares valued at $539.98 million at September 30, up 9.6% from the prior quarter. bitcoinmagazine.com
- 3JPMorgan’s put options covered 1,148,500 MicroStrategy shares at September 30, a 60% increase from 715,700 shares in June. finance.yahoo.com
- 4MSCI announced that MicroStrategy will be removed from its U.S. and global indexes on November 30. finance.yahoo.com
- 5Bank analysts estimate the index removal could force index funds to sell about $2.8 billion of MicroStrategy stock. finance.yahoo.com
- 6At a market price of roughly $115 per share on the day of the filing, JPMorgan’s September MSTR stake would be worth about $97.6 million. finance.yahoo.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.