JPMorgan: Cryptocurrency adoption is still in its early stages, but momentum is growing

PANews September 10th news, according to CoinDesk, a report released by JPMorgan on Wednesday said that institutional adoption of cryptocurrencies is still in its early stages, but momentum is increasing. The report said Bullish's August IPO and the passage of the GENIUS bill have heightened attention to the industry, and the clarity of regulation eliminates one of the biggest obstacles facing large investors. The report mentioned that signs of participation are emerging, with the Chicago Mercantile Exchange (CME) reporting that institutional investors have hit record highs in the number of open contracts for cryptocurrency derivatives, and institutions currently hold about a quarter of Bitcoin ETP; while an Ernst & Young survey showed that 85% of companies have already allocated digital assets, or plan to allocate them in 2025, and use regulation as a key driver. The report also said that in terms of stock markets, Bullish has become a benchmark for institutional investors; the exchange's share price has risen 45% since its IPO, and its momentum will be stronger if it obtains BitLicense later this year. JPMorgan ratings Bullish stock as "neutral" with a target price of $50. The stock rose slightly to $54.50 on Wednesday.