Damn, is this reasonable? JPMorgan has brought the financial nesting doll play to the table! Buy BlackRock Bitcoin ETF stocks → mortgage them to JPMorgan for a loan → use the money to continue buying stocks → and then mortgage again. A cycle of leverage, turning the casino into a real bank, how do you play this?

On the surface, it looks very bullish, with improved ETF liquidity and large institutions endorsing it. In reality, the risks are maximized; Bitcoin itself is already volatile, and now there's an additional layer of leverage. In a bull market, it’s all smiles, but once it drops 30%, the chain liquidation directly takes away the collateral. JPMorgan can’t recover the loan, and the retail stocks become worthless.

What's even more outrageous is that JPMorgan wants to include the cryptocurrencies in customers' hands in the net asset assessment. This is equivalent to indirectly encouraging more people to bet on the crypto circle. When it drops, even the principal has to fill the hole, you understand?

Wall Street never disappoints when it comes to playing with leverage, but stacking buffs in the crypto circle is like unleashing a big move; the stimulation is real, but death is also really easy. You all assess for yourselves; I can't say more!