JPMorgan Reports Growing Momentum in Crypto Institutional Adoption
JPMorgan's recent report indicates growing momentum in institutional crypto adoption. Key points include:
- Recent events like Bullish's IPO and the GENIUS Act have improved regulatory clarity, a major hurdle for large investors.
- The Chicago Mercantile Exchange reported record institutional interest in crypto derivatives.
- Institutions now hold about 25% of bitcoin ETPs.
- An EY survey shows 85% of firms allocate to digital assets or plan to by 2025, with regulation as a key factor.
- Ethereum (https://holder.io/coins/eth/) and Solana (https://holder.io/coins/sol/) are highlighted as primary investment avenues.
- ETH has increased nearly 20% since the GENIUS Act passed; SOL is up 17%.
- Bullish shares have risen 45% post-IPO and could gain more traction if a BitLicense is secured.
- JPMorgan rates Bullish neutrally with a $50 price target; stock was at $54.50 on Wednesday.