JPMorgan Enters Bitcoin
JPMORGAN’s historic change of course represents a strong signal for the entire sector: after years of criticism, the bank agrees to include Bitcoin among the services offered to customers.
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During the annual Investor Day held on May 19th, the CEO of JPMorgan Chase, Jamie Dimon, announced thateven if the bank will not manage its custody. Dimon confirmed his personal skeptical position, but he underlined that customers must be free to access this class of digital assets. This represents an important turning point by one of Bitcoin’s main public opponents, known for comparing the cryptocurrency to a “pet rock” and requested the total closure only a few months ago.
Despite the persistent criticisms on the risks of recycling and illegal use, repeatedly dispelled by the real data, and a poor regulatory clarity, JPMORGAN recognizes the growing interest of its customers. The new approach includes the possibility of showing Bitcoin participations in bank account extracts, a tangible sign of a progressive normalization of asset within traditional finance.
In parallel, ETFs on Bitcoin in the United States continue to record huge affluses. After the day of Friday 16 May, which saw a capital injection of over 260 million dollars, on the day of . The ETFs of Blackrock, Fidelity and Ark have guided the movement, contributing to the For Etf Spots on Bitcoin, where clear affluents were recorded for . This constant flow of capitals in the ETFs on BTC has brought the total net to reflecting a growing trust from US investors against Bitcoin as a value reserve and strategic asset.
The tendency to invest in crypto via ETF emerged strongly after the approval of the first ETF commercials at the beginning of 2024, contributing to greater accessibility and legitimacy of the crypto sector among institutional investors.
Also from a regulatory point of view, the situation in the United States is evolving. The Federal Deposit Insurance Corporation (FICCO) has updated its guidelines, without the need for preventive approval, as long as the risks are managed adequately. This move was interpreted as an attempt to leave behind a too rigid approach and to adopt a more open policy, but still focused on security and financial solidity criteria.
A further positive indicator for Bitcoin comes from the On-Chain analysis: the attesting to the . This dynamic suggests an increasingly long -term oriented strategy by investors, who prefer to keep their assets in private wallets, rather than on the exchange platforms. Such a contraction of the offer available on the centralized markets could create the conditions for a further thrust on the short term, especially if combined with the entry of the new demand by institutional actors.
Arthur Hayes, Bitmex co-founder, said in a recent interview that Bitcoin will have to exceed 110,000 dollars and aim for around $ 150,000-200,000 to begin a new Altseason. Hayes, today driving the Family Office Maelstrom, provides that this could happen between June and the third quarter of the year, fueled by a growing market liquidity. As for the long -term prospects, Hayes reiterated a highly bullish vision, during a possible second mandate by Donald Trump.
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