**JPMorgan boosts MicroStrategy stake by 36% and now holds $540 million of BlackRock’s Bitcoin ETF**

- The bank’s Form 13F shows 848,932 MicroStrategy shares as of Sept 30, up from 624,387 in June, valued at $131.3 million versus $57.9 million three months earlier.
- JPMorgan’s broker‑dealer reports 11,408,930 shares of BlackRock’s iShares Bitcoin Trust (IBIT) worth $540 million, an increase from 10,407,635 shares valued at $355.7 million in June.
- Options activity includes puts on 1,148,500 MicroStrategy shares (up from 715,700) and calls on 349,500 shares; IBIT calls cover 3,703,200 shares and puts on 2,915,000 shares.

What does this expanding exposure to **MicroStrategy** and **Bitcoin ETF** holdings mean for institutional crypto allocation strategies?

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