'If he really doesn't have high hopes for Bitcoin, then why has JPMorgan quietly bought over 260,000 shares of Bitcoin ETF?'
'Clearly saying crypto is a Ponzi scheme, how come this time even Ethereum products are on board?'
If you are also feeling confused, you might as well continue reading; the story behind this is far more exciting than it appears.
At the recently concluded JPMorgan Investor Day, a rather dramatic scene unfolded: CEO Jamie Dimon still maintained his pessimistic stance on crypto assets, stating that he 'does not have high hopes for Bitcoin', even making a metaphor: 'I don’t recommend you smoke, but I will defend your right to smoke.' — The meaning is clear: I oppose Bitcoin, but I can't stop you from buying it.
While publicly 'extremely disdainful', actions 'slap face hard' — at the same time this statement was made, JPMorgan has quietly increased its exposure to its Crypto assets. According to the 13F report submitted to the US SEC, as of the end of the first quarter of 2025, the bank held up to $16.3 million in crypto asset exposure through multiple ETFs, while this figure was only $1 million at the end of 2024!
One of the most eye-catching holdings is: BlackRock's iShares Bitcoin Trust (IBIT), which JPMorgan acquired over 263,000 shares in one go.
In addition, it also holds:
Bitwise Spot BTC ETF (BITB)
Grayscale's BTC Trust (GBTC)
Fidelity's Wise Origin BTC Fund (FBTC)
Bitwise and Franklin Templeton's Ethereum-related products
Although the overall holding amount is still negligible compared to JPMorgan's $4.4 trillion in managed assets, the 'silent turn' behind this releases a strong signal: even if the CEO does not admit it, JPMorgan knows that what clients want are Bitcoin and crypto assets.
Why is this worth your attention?
The sense of disconnection between attitude and behavior: Jamie Dimon once suggested in 2023 to 'shut down the entire Crypto industry', yet in 2024 repeatedly referred to Bitcoin as 'pet rock' and 'Ponzi scheme', but tacitly allowed the company to heavily enter the ETF market. This contradiction actually reflects the 'battle of reason and emotion' that traditional financial institutions face in the face of the transformative era of Crypto.
The real pace of institutional entry: JPMorgan is not the first Wall Street giant to be 'hard on the outside but soft on the inside', nor will it be the last. From BlackRock, Fidelity, to Goldman Sachs, Morgan Stanley, we are witnessing a series of 'anti-crypto factions' gradually turning into 'voting with their feet'.
The layout is not just Bitcoin: JPMorgan has also quietly laid out Ethereum-related ETFs, while the Kinexys department has completed testing the integration of private networks with public chains, involving participants including Chainlink and Ondo Finance — these projects have never made it to this giant's 'table' before.
The most critical question for ordinary investors regarding this **'surface denial, hidden embrace'** operation is:
Are you going to wait for these large institutions to finish before taking action, or are you going to secure your position while they are just starting to dig in?
In this environment of information chaos, where statements are difficult to discern as true or false, investors need not passion and belief, but a tool that can see through institutional behavior patterns and judge the true trends of the market.
That’s why AI research assistants like [Mlion.ai] are particularly important —
It can not only provide trend predictions and sentiment analysis of currencies based on institutional movements and ETF holdings changes, but also quickly produce highly readable AI research reports by combining on-chain data and news content, helping you clarify true and false opinions and track the real flow of funds.
The market is not about what someone says, but about who really spends money.
When the giants of Wall Street have quietly turned, ordinary users need to leverage the power of AI to avoid being misled by public opinion, truly see the footsteps of capital, and stand on the trend.
The above content is for informational sharing only and does not constitute any investment advice!
