According to PANews, a recent report by JPMorgan highlights the increasing momentum of institutional adoption of cryptocurrencies, despite being in its early stages. The report notes that the August IPO of Bullish and the passage of the GENIUS Act have intensified focus on the industry, with regulatory clarity removing significant barriers for large investors.
Signs of institutional participation are becoming evident, as the Chicago Mercantile Exchange (CME) reports a record high in open interest for cryptocurrency derivatives among institutional investors. Currently, institutions hold approximately a quarter of Bitcoin ETPs. Additionally, a survey by Ernst & Young reveals that 85% of companies have either allocated digital assets or plan to do so by 2025, with regulation cited as a key driver.
In the stock market, Bullish has emerged as a benchmark for institutional investors. Since its IPO, the exchange's stock price has risen by 45%. If Bullish obtains a BitLicense later this year, its growth momentum is expected to strengthen further. JPMorgan has rated Bullish stock as "neutral," with a target price of $50. On Wednesday, the stock saw a slight increase, reaching $54.50.