Bitcoin ETF

Bitcoin

JPMorgan Chase CEO Jamie Dimon reiterated his longstanding skepticism about BTC despite his company’s role in the BlackRock Bitcoin ETF.&nbsp;
Despite the cryptocurrency’s status as the most valuable in terms of market capitalization, Dimon remained unswayed, <a href="https://www.foxbusiness.com/video/6344618210112" target="_blank" rel="noopener noreferrer nofollow">questioning</a> its intrinsic worth. Under Dimon’s leadership, JPMorgan Chase has been identified as an authorized participant for BlackRock’s newly <a href="https://crypto.news/sec-approves-spot-bitcoin-etf-on-accelerated-basis/" rel="noopener noreferrer nofollow">approved</a> spot Bitcoin ETF, the <a href="https://www.sec.gov/Archives/edgar/data/1980994/000143774923028549/bit20231017_s1a.htm" target="_blank" rel="noopener noreferrer nofollow">iShares Bitcoin Trust</a>.&nbsp;
<blockquote class="wp-block-quote">
 “The actual use cases are sex trafficking, tax avoidance, anti-money laundering, terrorism financing; it’s not just people buying and selling bitcoin. There’s no value if you’re buying and selling Bitcoin.” <cite>– Jamie Dimon, CEO of JPMorgan Chase</cite>
</blockquote>
<figure class="wp-block-video">
 <video controls src="https://www.foxbusiness.com/video/6344618210112"></video>
</figure>
You might also like: <a href="https://crypto.news/sec-approves-spot-bitcoin-etf-on-accelerated-basis/" rel="noopener noreferrer nofollow"> SEC approves spot Bitcoin ETF on accelerated basis </a>
This involvement is a notable contrast to Dimon’s personal views on cryptocurrency. His critical perspective on digital currencies is well-documented; he has previously expressed to lawmakers that, were he in a governmental position, he would seek to curtail the growth of cryptocurrencies. BlackRock’s recent amendment to its SEC filing for its spot bitcoin ETF proposal further cements this dichotomy.
The filing includes both Jane Street Capital and JPMorgan Securities LLC as authorized participants, emphasizing JPMorgan’s emerging role in the developing cryptocurrency ETF sector. The SEC’s approval of several ETF applications today highlights the growing integration of cryptocurrencies into traditional financial systems, a move JPMorgan appears poised to capitalize on despite Dimon’s personal reservations.
Dimon presents a complex scenario for JPMorgan’s approach to future Bitcoin and cryptocurrency developments. While the firm is strategically positioned to facilitate and benefit from the growth of Bitcoin ETFs, its CEO’s skepticism adds a sense of uncertainty about its long-term engagement in the crypto market.
Read more: <a href="https://crypto.news/ripple-labs-plans-to-repurchase-285m-stake-in-tender-offer/" rel="noopener noreferrer nofollow"> Ripple Labs plans to repurchase $285m stake in tender offer </a>

JPMorgan CEO criticizes BTC despite backing BlackRock Bitcoin ETF

crypto.news

Other articles published on Jan 10, 2024

India pulls Binance, Kraken from App Store following AML breach

Crypto degens are betting heavily on a spot Bitcoin ETF approval

The DAME Debate: Balancing Crypto Innovation and Electricity Taxation

Ripple Could Hit $1.10 if XRP Holds This Pattern: Analyst

After CBOE Announces Bitcoin Spot ETFs Will Start Trading Tomorrow, Why Isn’t the SEC Announcing ...

Why This Grayscale Crypto Fund Can Be Bullish for Ripple (XRP) Investors

Join our free newsletter for daily crypto updates!