- Nate Geraci, co-founder of the ETF Institute, commented on Thursday regarding the possibility of JPMorgan filing for a spot Bitcoin ETF with the SEC.
- JPMorgan currently has its own cryptocurrency called JPM Coin for its transactions and is exploring interbank transactions and scheduled payments.
- JPMorgan quietly filing for a spot Bitcoin ETF, similar to applications by BlackRock and Fidelity, could completely change market sentiment and the direction of BTC prices.
Nate Geraci, co-founder of ETF Institute, evaluated the possibility of JPMorgan applying for a spot Bitcoin ETF: Here are the details!
JPMorgan May Offer Bitcoin ETF in the US
Nate Geraci, co-founder of the ETF Institute, evaluated the likelihood of JPMorgan filing for a spot Bitcoin ETF with the SEC. The comment came in response to JPMorgan CEO Jamie Dimon’s desire to crush cryptocurrency from the U.S. government and stating that the only use case for crypto is to promote crimes.
Nate Geraci, in a tweet on December 7, mentioned that JPMorgan could launch a spot Bitcoin ETF or make it easier for asset management clients to invest in Bitcoin. However, the financial giant may not ignore Bitcoin and cryptocurrency as demand increases among institutional investors and family offices.
JPMorgan launched its first ETF in 2014, 21 years after the introduction of the first ETF. Initially, the company and CEO Jamie Dimon found ETFs quite disruptive and relied on their own services. However, investors turned to ETFs over time, and JPMorgan joined them.
JPMorgan was one of the first financial giants to enter the sector during the 2021 crypto market bull run. JPMorgan has its own cryptocurrency called JPM Coin for its transactions and is currently exploring interbank transactions and scheduled payments.
JPMorgan quietly filing for a spot Bitcoin ETF, similar to applications by BlackRock and Fidelity, could completely change market sentiment and the direction of BTC prices. CEO Jamie Dimon wants to capitalize on the adoption of Bitcoin in the traditional financial industry.
JPMorgan CEO Dimon Criticized Cryptocurrency
JPMorgan CEO Jamie Dimon strongly criticized cryptocurrency in the United States Senate Banking, Housing, and Urban Affairs Committee. Dimon said, “If I were the government, I would shut it down.” His comment came in response to the belief that criminals use cryptocurrency for drug trafficking, money laundering, tax evasion, and other crimes.
