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JPMorgan can shock the market by making use of with the U.S. SEC to launch a spot Bitcoin ETF, mentioned Nate Geraci, host of ETF Prime podcast and co-founder of ETF Institute, on Thursday. The remark got here in response to JPMorgan CEO Jamie Dimon asking the US authorities to crush crypto, saying that crypto’s solely use case is to advertise crime.

Spot Bitcoin ETF By JPMorgan

Nate Geraci took to X on December 7 declaring that JPMorgan might launch a spot Bitcoin ETF or make it straightforward for its wealth administration shoppers to put money into Bitcoin. However, the monetary big is unlikely to miss Bitcoin and crypto because the demand rises amongst institutional traders and household places of work.

JPMorgan launched its first ETF in 2014, 21 years after the launch of first ETF. The firm and CEO Jamie Dimon have been towards the extremely disruptive ETFs and relied on its providers. However, traders slowly turned to ETFs and JPMorgan adopted.

JPMorgan was one of many first monetary giants to step into the trade throughout the 2021 crypto market bull run. JPMorgan has its personal JPM Coin to settle transactions, with now exploring cross-bank transactions and programmed payments.

JPMorgan’s silently submitting spot Bitcoin ETF software might occur just like BlackRock and Fidelity filings that fully modified the market sentiment and BTC value path. CEO Jamie Dimon want to capitalize on the Bitcoin adoption within the conventional finance trade.

Also Read: Cathie Wood’s Ark Invest Offloads $25M Of Coinbase & $3.5M Of GBTC Shares

JPMorgan CEO Jamie Dimon Criticized Crypto

During a listening to on the United States Senate Committee on Banking, Housing, and Urban Affairs, JPMorgan CEO Jamie Dimon lashed out at crypto. He added “If I were the government, I’d close it down.”

His remark got here in response to his perception that criminals use crypto for drug trafficking, cash laundering, tax avoidance, and different crimes.

Also Read: Bitcoin (BTC) CME Gap At $39,700, Is It Good Or Bad News For Investors?

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Varinder has 10 years of expertise within the Fintech sector, with over 5 years devoted to blockchain, crypto, and Web3 developments. Being a know-how fanatic and analytical thinker, he has shared his data of disruptive applied sciences in over 5000+ information, articles, and papers. With CoinGape Media, Varinder believes within the large potential of those modern future applied sciences. He is presently protecting all the newest updates and developments within the crypto trade.

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