JPMorgan Chase CEO Jamie Dimon reiterated his long-standing skepticism about BTC regardless of his firm’s position within the BlackRock Bitcoin ETF.
Regardless of the cryptocurrency’s standing as probably the most precious when it comes to market capitalization, Dimon was unperturbed. Question its intrinsic worth. Below Mr. Dimon’s management, JPMorgan Chase was acknowledged as a licensed participant in BlackRock’s newly authorized Spot Bitcoin ETF. iShares Bitcoin Trust.
“Actual-world use instances are intercourse trafficking, tax evasion, anti-money laundering, and terrorist financing. It is not simply individuals shopping for and promoting Bitcoin. When you’re shopping for and promoting Bitcoin, it isn’t price something. .”
– Jamie Dimon, CEO of JPMorgan Chase
This involvement stands in sharp distinction to Dimon’s private views on cryptocurrencies. His important perspective on digital currencies is nicely documented. He beforehand instructed MPs that if he had been in authorities, he would attempt to curb the expansion of cryptocurrencies. BlackRock’s latest amendments to its SEC submitting concerning its proposed Spot Bitcoin ETF additional solidified this dichotomy.
The submitting contains each Jane Avenue Capital and JPMorgan Securities LLC as licensed contributors, highlighting JPMorgan’s new position within the growing crypto ETF sector. Right this moment’s SEC approval of a number of ETF purposes highlights the rising integration of cryptocurrencies into the standard monetary system, and regardless of Dimon’s private reservations, JPMorgan Seems to be like he is able to reap the benefits of the transfer.
Dimon lays out a posh situation for JPMorgan’s method to future Bitcoin and cryptocurrency improvement. The corporate is in a strategic place to drive and profit from the expansion of Bitcoin ETFs, however its CEO’s skepticism casts uncertainty over its long-term dedication to the crypto market.
