JP Morgan Buys 1,974,144 Shares in Ethereum Treasury Firm BitMine

TLDR:

• JP Morgan purchased 1.97M BitMine shares worth $102.5M, expanding into Ethereum-linked assets.
• The bank reduced its $SBET stake by 70%, signaling a pivot toward blockchain exposure.
• Ark Invest added 240K BMNR shares across three ETFs amid a 9.8% price drop.
• Institutional investors are increasingly targeting Ethereum-aligned equities for indirect crypto exposure.
  

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JP Morgan has acquired 1,974,144 shares of BitMine ($BMNR) worth approximately $102.5 million, according to multiple filings shared by market trackers on X. The investment gives the largest U.S. bank a notable position in a public company accumulating Ethereum. 

Analysts suggest this move marks a shift in institutional positioning toward Ethereum-based assets. The purchase comes as traditional finance continues aligning with digital asset treasuries despite mixed crypto market sentiment.

JP Morgan Expands Exposure to Ethereum Through BitMine

Data posted by BMNR Bullz and SamAlτcoin.eth revealed that JP Morgan now holds a nine-figure position in BitMine. The bank’s 1.97 million-share acquisition positions it among the largest institutional holders of the Ethereum-stacking firm. 

maxxTFSA reported that the purchase coincided with a 70% reduction in JP Morgan’s previous stake in SBET, indicating a strategic portfolio shift toward blockchain-linked equities.

The move underscores growing interest from Wall Street institutions in companies tied to Ethereum accumulation and infrastructure. BitMine, whose business model involves holding and managing Ethereum as a balance sheet asset, has become a magnet for traditional investors seeking digital asset exposure without directly holding crypto.

Market analysts tracking institutional inflows noted that the timing aligns with a broader rotation into Ethereum-related equities following spot ETF discussions in the U.S. Moreover, 

JP Morgan’s purchase suggests an effort to secure an early position ahead of potential Ethereum-based product approvals and liquidity expansion.

Ark Invest Joins the Buying Spree Amid BMNR Pullback

While JP Morgan’s investment drew headlines, Ark Invest also increased its BitMine exposure this week. 

Treasury Edge reported that Cathie Wood’s firm acquired 240,507 BMNR shares worth about $9 million across three ETFs. These include 167,348 shares for the ARK Innovation ETF (ARKK), 48,361 shares for ARK Next Generation Internet ETF (ARKW), and 24,798 shares for ARK Fintech Innovation ETF (ARKF).

The purchases came as BMNR shares dropped 9.8%, extending a weak streak across digital asset treasury stocks. Despite the decline, Ark’s consistent allocation signals continued confidence in BitMine’s long-term value within its diversified crypto strategy. 

According to data, Ark adheres to a 10% portfolio exposure limit per holding, suggesting room for further rebalancing if BMNR valuation shifts.

JP Morgan’s and Ark Invest’s concurrent purchases have drawn attention from traders observing increasing institutional overlap in Ethereum-linked assets. The developments highlight a shifting trend where traditional funds and banks are opting for indirect crypto exposure through equity positions in blockchain-focused firms.

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