JPMorgan Invests $102M in BitMine as Ethereum Institutional Demand Rises

• JPMorgan’s $102 million stake in BitMine signals rising institutional interest in Ethereum holdings.
• BitMine now holds over 3.24 million ETH, expecting Ethereum price to reach $7,000 by the end of the year.

JPMorgan Chase & Co. has revealed a major investment in BitMine Immersion Technologies. According to a 13F-HR filing submitted to the U.S. SEC on November 7, the bank held 1,974,144 shares of the company as of September 30, valued at roughly $102 million.

According to a 13F-HR filing submitted to the U.S. SEC on Nov. 7, JPMorgan held 1,974,144 shares of BitMine Immersion Technologies as of Sept. 30, with a position value of about $102 million. BitMine, originally a bitcoin mining company, pivoted in 2025 to become an Ethereum…

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This investment gives the largest US bank a notable position in a publicly traded company that holds Ethereum. The move signals growing confidence in Ethereum’s long-term value among major financial players. It also provides traditional investors with a clearer path to enter the crypto market.

By leveraging Bitmine’s Ethereum reserves, JPMorgan is creating a functional link between traditional finance and blockchain-based assets, increasing the likelihood of crypto gaining a place in mainstream financial systems.

BitMine, led by Thomas Tom Lee, began as a bitcoin miner company. In 2025, the firm shifted its strategy and turned its focus toward Ethereum reserves. The company now holds more than 3.24 million ETH, placing it among the largest corporate holders of the cryptocurrency.

JPMorgan Deepens Institutional Role in Crypto

JPMorgan’s move comes as it prepares to allow its institutional clients to use Bitcoin and Ethereum as collateral for loans by the end of this year. According to Bloomberg, the setup will run through a third-party custodian responsible for holding the pledged digital assets.

Earlier this year, JPMorgan began accepting crypto-linked ETFs as collateral in its lending operations. Under the new framework, clients can now pledge actual digital assets instead of ETF shares. This change allows long-term holders to access liquidity without having to sell their crypto holdings.

The decision reflects a gradual integration of crypto asset services within major banking plans. Jamie Dimon, once strongly opposed, has softened his stance. He recently said that although he remains skeptical about bitcoin, he will “defend your right to buy bitcoin,” signaling a shift toward wider acceptance of crypto in mainstream finance.

Ark Invest Adds More Ethereum Shares

Cathie Wood’s Ark Invest has also expanded its exposure to Ethereum by purchasing 240,507 shares of BitMine. This move indicates that institutional investors are paying more attention to companies developing projects aimed at building Ethereum reserves and making them part of a broader investment strategy.

Tom Lee said he expects Ethereum to finish the year in a stronger position even with the recent price swings. He pointed out that activity on the Ethereum network has been rising, including steady growth in stablecoin transfer volume. Lee also said that revenue generated from network applications is near its highest level ever, which suggests that demand is still holding up despite price pullbacks.

Lee added that the wave of roughly $19 billion in liquidations in October cleared out excess leverage, giving the crypto market a fresh start. In his view, the market now stands on a stronger footing, and he believes Ethereum could reach around $7,000 by the end of 2025.

At present, Ethereum is trading at $3,429, reflecting a 2.59% increase over the past 24 hours.

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