Blackrock Names JPMorgan as Authorized Participant for Spot Bitcoin ETF Despite Jamie Dimon Wanting to Ban Crypto

Blackrock, the world’s largest plus manager, has named JPMorgan arsenic a pb authorized subordinate for its spot bitcoin exchange-traded money (ETF). This followed JPMorgan CEO Jamie Dimon stating successful a legislature proceeding that bitcoin and cryptocurrency are utilized chiefly for transgression purposes and that helium would adjacent down crypto if helium were the government.

JPMorgan Named Authorized Participant by Blackrock for Spot Bitcoin ETF

On the last time of the U.S. Securities and Exchange Commission (SEC)’s deadline, Blackrock, the world’s largest plus manager, submitted an updated filing for its spot bitcoin exchange-traded money (ETF). The SEC gave spot bitcoin ETF applicants until Friday to taxable their amended filings successful bid to beryllium included successful the archetypal batch of decisions successful aboriginal January. Moreover, the securities regulator reportedly said it wants authorized participants (APs) named successful amended filings.

Blackrock’s latest amended filing shows that it has named JPMorgan and Jane Street arsenic the authorized participants for its spot bitcoin ETF. However, JPMorgan CEO Jamie Dimon precocious said astatine a Senate proceeding successful reply to a question by Senator Elizabeth Warren (D-MA) that helium would shut down cryptocurrency if helium were the government, emphasizing that bitcoin and crypto are chiefly utilized for transgression purposes.

Commenting connected JPMorgan’s statement with Blackrock contempt Dimon’s antagonistic stance connected crypto, Vaneck’s manager of integer assets strategy, Gabor Gurbacs, stated connected societal media level X Friday:

3 weeks aft JP Morgan CEO says bitcoin is for criminals, cause traffickers, and wealth launderers successful beforehand of Congress, his steadfast is named authorized subordinate for the Blackrock bitcoin ETF … possibly it’s clip to retract that statement?

Many radical connected societal media shared the sentiment. Zerohedge wrote connected X: Jamie Dimon, who ‘hates’ bitcoin, volition beryllium broker-dealer connected the bitcoin ETF of the world’s biggest plus manager.” In different post, the idiosyncratic wrote: “Dear Senator Elizabeth Warren, Jamie Dimon is ‘on it’: helium volition beryllium pb AP connected the Blackrock and Invesco bitcoin ETFs, accelerating planetary adoption of crypto, and lifting the worth of the merchandise that ‘he’s ever been opposed to’ into the trillions.”

According to their updated filing with the SEC, Invesco/Galaxy besides named JPMorgan arsenic an authorized subordinate for their projected spot bitcoin ETF.

Besides Blackrock, respective different spot bitcoin ETF applicants — including Vaneck, Valkyrie, Bitwise, Invesco/Galaxy, Fidelity, Wisdomtree, and the Ark Investments and 21shares associated endeavor — besides submitted their amended filings with the SEC connected Friday, aiming to beryllium considered successful the archetypal question of spot bitcoin ETF decisions.

While galore are bullish that spot bitcoin ETF approvals would boost the terms of BTC, JPMorgan’s analysts are skeptical. They said successful a November enactment that spot bitcoin ETFs could enactment “severe downward pressure connected bitcoin’s price.” Meanwhile, Blackrock disclosed successful a filing past week a program to seed its spot bitcoin ETF with $10 cardinal connected Jan. 3.

What bash you deliberation astir Blackrock naming JPMorgan arsenic an authorized subordinate for its spot bitcoin ETF contempt Jamie Dimon wanting to unopen down crypto? Let america cognize successful the comments conception below.