Nate Geraci on December 7, 2023 through platform X hinted that JP Morgan might launch a bitcoin. Indirectly speaking he might make the job of financial investors or wealth management clients easy so that they can invest in BTC. To add onto this, this declaration had come a comment on JP Morgan’s CEO Jamie Dimon requesting the US government demolish cryptocurrency, claiming that crypto’s main use case is to increase criminality.
First ETF by Morgan
After 21 years of the launch of the first ETF, JP Morgan launched its first ETF in the year 2014. The corporation and its CEO, Jamie Dimon, were opposed to the extremely disruptive ETFs and instead depended on its services. However, investors gradually shifted to ETFs, and JPMorgan followed suit. During the 2021 crypto market bull run, JPMorgan was one of the first banking behemoths to enter the field. JPMorgan has its own JPM Coin for transaction settlement and is presently looking at cross-bank transactions and programmed payments. JPMorgan’s secretly filed spot Bitcoin ETF application might follow in the footsteps of BlackRock and Fidelity registrations, which drastically altered market sentiment and BTC price direction. CEO Jamie Dimon wants to profit from Bitcoin adoption in the traditional financial business.
Morgan’s CEO on Crypto
JPMorgan CEO Jamie Dimon lashed out at cryptocurrency during a hearing before the United States Senate Committee on Banking, Housing, and Urban Affairs. He said, “If I were the government, I’d close it down.”
His remark was in reaction to his view that criminals utilize cryptocurrency for drug trafficking, money laundering, tax evasion, and other illegal activities.