JPMorgan: The adoption of cryptocurrencies by institutions is still in the early stages, but momentum is building

ChainCatcher news, according to CoinDesk, a report released by JPMorgan on Wednesday stated that institutional adoption of cryptocurrencies is still in its early stages, but momentum is increasing.

The report indicated that the IPO of Bullish in August and the passage of the GENIUS Act have intensified interest in the industry, and regulatory clarity has removed one of the biggest obstacles faced by large investors. The report mentioned that signs of participation are emerging, with the Chicago Mercantile Exchange (CME) reporting that the number of open contracts for cryptocurrency derivatives held by institutional investors has reached an all-time high, and institutions currently hold about a quarter of Bitcoin ETPs; meanwhile, a survey by Ernst & Young showed that 85% of companies have allocated digital assets or plan to do so by 2025, with regulation being a key driving factor.

The report also stated that in the stock market, Bullish has become a benchmark for institutional investors; since its IPO, the exchange's stock price has risen by 45%, and if it obtains a BitLicense later this year, its growth momentum will be even stronger. JPMorgan has rated Bullish stock as "neutral," with a target price of $50. The stock rose slightly to $54.5 on Wednesday.