Nate Geraci, host of ETF Prime podcast and co-founder of ETF Institute, suggested that JPMorgan might surprise the market by applying for a spot Bitcoin ETF with the U.S. SEC. This comes in contrast to JPMorgan CEO Jamie Dimon’s call for government intervention against crypto, claiming its primary use is for criminal activities. Geraci highlighted on December 7 that JPMorgan could potentially launch a spot Bitcoin ETF or facilitate easier Bitcoin investments for wealth management clients, recognizing the growing demand among institutional investors and family offices. Despite initial reluctance, JPMorgan entered the crypto industry during the 2021 bull run after years of skepticism about disruptive ETFs.
JP Morgan utilizes its JPM Coin for transaction settlements and is currently exploring cross-bank transactions and programmed payments.The potential discreet filing of a spot Bitcoin ETF application by JPMorgan might parallel the market impact seen with filings from BlackRock and Fidelity, significantly influencing market sentiment and Bitcoin price direction. CEO Jamie Dimon appears keen on leveraging Bitcoin’s adoption within the traditional finance industry.
