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JPMorgan to allow clients to buy Bitcoin, ETF access reportedly on the table
GameFi Guides

JPMorgan to allow clients to buy Bitcoin, ETF access reportedly on the table

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Banking giant JPMorgan will allow clients to buy Bitcoin, CEO Jamie Dimon said at the firm’s annual investor day.

Speaking to CNBC, Dimon said clients would soon be able to buy Bitcoin, though the bank itself won’t hold the asset. 

“We’re not going to custody it,” he noted, adding only that Bitcoin will appear “in statements for clients.” No additional details were disclosed.

The move marks a notable shift for the largest U.S. bank, particularly as rival Morgan Stanley already offers access to spot Bitcoin ETFs for qualifying clients.

JPMorgan is expected to offer access to Bitcoin exchange-traded funds (ETFs), according to sources cited by CNBC. Until now, the bank’s exposure to crypto has been limited to futures-based products rather than direct investment options.

Still, Dimon made it clear his personal stance on Bitcoin hasn’t changed. He pointed to its association with criminal use cases, including money laundering, sex trafficking, and terrorism. 

“I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy Bitcoin,” he was quoted as saying.

The remarks echo what he told CBS News back in January, when he said he doesn’t believe Bitcoin has intrinsic value and likened its users to smokers, acknowledging their right to own it while discouraging it personally. 

At the time, he insisted he wasn’t against crypto as a whole but remained firmly opposed to Bitcoin’s utility.

Dimon’s skepticism dates back years. In 2021, during a Senate hearing, he called Bitcoin “worthless” and claimed its only real use case was among “criminals, drug traffickers, and tax avoiders.”

In 2018, he called it a scam and even threatened to fire JPMorgan traders who dealt with it. At Davos earlier this year, after Bitcoin surged past $100,000, he dismissed it again as “the pet rock,” insisting it “does nothing.”

Despite his criticism, JPMorgan has found itself increasingly involved in the decentralized space. 

The bank is listed as an authorized participant in BlackRock’s iShares Bitcoin Trust and has praised blockchain technology, even as its CEO continues to distance himself from Bitcoin specifically.



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XRP Eyes ETF Launch After XRP Futures Debut: Nate Geraci
Crypto Trends

XRP Eyes ETF Launch After XRP Futures Debut: Nate Geraci

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  • XRP ETF underway?
  • XRP price today

Nate Geraci, the cofounder of the ETF Institute and president of the ETF Store, issued an X post on May 19, expressing confidence about XRP’s next big move after the debut of the much-awaited XRP futures.

The Ripple community is set for more institutional adoption, all thanks to CME’s decision to expand its suite of regulated crypto derivatives by including XRP. Per the development, the XRP futures contract will be issued based on the CME CF XRP-Dollar Reference Rate, which represents cash-settled futures.

Notably, this eliminates the need for the physical delivery of XRP coins when a contract concludes. Thus, this seeks to address the fast-growing demand for digital assets like XRP among institutions.

While this marks a notable milestone for the broad crypto market and the XRP community, this major development has made headlines as XRP traders debate what’s next for the leading altcoin.

XRP ETF underway?

On Monday, Nate Geraci took to X (formerly Twitter) to disclose the launch of regulated XRP futures contracts on the renowned crypto derivatives trading platform, Chicago Mercantile Exchange (CME).

While the contracts have been regulated by the Commodity Futures Trading Commission (CFTC), institutional investors now have secure access to exploring the digital asset as they leverage new avenues for exposure and hedging strategies.

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Amid the buzz surrounding this notable development, Nate Geraci has shown belief that the XRP exchange-traded fund (ETF) is next in line. His statement suggests that the XRP futures launch will serve as a stepping stone for XRP to finally experience the official approval of its investment product.

This notable regulatory development signals a potential bullish catalyst for the long-distressed price of XRP, as it tends to provide more utility for the fourth-largest cryptocurrency by market capitalization.

While the demand for the XRP investment product has continued to rise, the move has also fueled more optimism among crypto traders, as other X users were seen making comments in agreement with Nate’s forecast.

XRP price today

Although XRP has been trading sideways in recent days, this major development poses a long-term impact on its performance as traders expect this to mark the beginning of a major bull run.

Source: CoinMarketCap

As of today, XRP has declined slightly by 0.77% over the last 24 hours, but its trading volume shows a massive 63.87% surge. XRP is trading at $2.37 as of press time.



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Krisztian Sandor
NFT Gaming

Bitcoin (BTC) Price Rebounds to $105K After Moody’s Downgrade; Crypto ETF Issuer Sees 35% Upside

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Cryptocurrencies regained footing on Monday after a rocky start to the trading session, mirroring a broader recovery in risk assets as traders digested Moody’s downgrade of U.S. government bonds.

Bitcoin

notched a strong rebound after slipping to as low as $102,000 early in the U.S. session, following its record weekly close at $106,600 overnight. The largest cryptocurrency by market cap climbed back to $105,000 in afternoon trading, up 0.4% over 24 hours. Ether rose 1.2%, reclaiming the $2,500 level.

DeFi lending platform Aave

outperformed most large-cap altcoins, while the majority of the broad-market CoinDesk 20 Index members still remained in the red despite advancing from their daily lows. Solana , Avalanche and Polkadot were down 2%-3%.

The bounce extended to U.S. stocks, too, with the S&P 500 and Nasdaq erasing their morning decline.

The early pullback in crypto and stocks came after Moody’s late Friday downgraded the U.S. credit rating from its AAA status. The move rattled bond markets, pushing 30-year Treasury yields above 5% and the 10-year note to over 4.5%.

Still, some analysts downplayed the downgrade’s long-term impact on asset prices.

“What does [the downgrade] mean for markets? Longer-term – really nothing,” said Ram Ahluwalia, CEO of wealth management firm Lumida Wealth. He added that in the short term there might be some selling pressure centered on U.S. Treasuries due to large institutional investors rebalancing, as some of them are mandated to hold assets only in AAA-rated securities.

“Moody’s is the last of the three major rating agencies to downgrade U.S. debt. This was the opposite of a surprise – it was a long time coming,” Callie Cox, chief market strategist at Ritholtz Wealth Management, said in an X post. “That’s why stock investors don’t seem to care.”

Bitcoin targets $138K this year

While BTC hovers just below its January record prices, digital asset ETF issuer 21Shares sees more upside for this year.

“Bitcoin is on the verge of a breakout,” research strategist Matt Mena wrote in a Monday report. He argued that BTC’s current rally is driven not by retail mania, but by a confluence of structural forces, including institutional inflows, a historic supply crunch and improving macro conditions that suggests a more durable and mature path to fresh all-time highs.

Spot Bitcoin ETFs have consistently absorbed more BTC than is mined daily, tightening supply while major institutions, corporations such as Strategy and newcomer Twenty One Capital accumulate and even states explore creating strategic reserves.

These factors combined could lift BTC to $138,500 this year, Mena forecasted, translating to a roughly 35% rally for the largest crypto.



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