Banking behemoth JPMorgan has revealed some Bitcoin publicity in its current 13F submitting.
The publicity is estimated to be at simply roughly $500,000, however it could nonetheless be considered as a optimistic growth for institutional Bitcoin adoption given how hostile JPMorgan CEO Jamie Dimon is towards Bitcoin.
As reported by U.As we speak, Dimon mentioned that he didn’t really feel “nice” concerning the main cryptocurrency throughout his January interview with CBC. The banking boss pointed to some illicit use instances which can be related to the main cryptocurrency, together with cash laundering.
Regardless that Dimon stays a staunch critic of Bitcoin, his rhetoric has nonetheless seemingly softened over the previous few years. Again in 2017, he went so far as calling Bitcoin “a fraud” whereas additionally claiming that he would hearth anybody who would dare to commerce it.
Dimon has repeatedly drawn parallels between Bitcoin and cigarettes: whereas he himself doesn’t approve of the cryptocurrencies, he doesn’t consider that the financial institution’s purchasers must be prevented from shopping for it since they’re adults.
Again in 2021, the financial institution rolled out entry to a number of cryptocurrency funds. This was considered as a considerable endorsement of the trade.
JPMorgan initially disclosed its spot ETF holdings final Might.
The financial institution acts as a licensed participant for a number of ETF issuers, that means that it assists points with the creation and redemption of shares.
As reported by U.As we speak, Goldman Sachs has revealed that it has a whopping $2.3 billion in Bitcoin publicity.