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International Business Times
International Business Times
Business
Nica Osorio

Bitcoin Critic Jamie Dimon's JP Morgan To Purchase BTC For BlackRock, Valkyrie

Jamie Dimon Bitcoin BlackRock JP Morgan Valkyrie JPMorgan Crypto ARK ETF United States

KEY POINTS

  • Dimon last month claimed cryptocurrencies should be banned as they are used by criminals
  • Several spot Bitcoin ETF applicants have named JPMorgan as their authorized participant
  • Bitcoin was trading in the green zone at $42,476.51 Monday morning

Jamie Dimon, the CEO of JPMorgan Chase, is facing public scrutiny after his multinational financial services firm was named by Blackrock and Valkyrie as one of the authorized participants (AP) of their proposed spot Bitcoin exchange-traded fund. The development piqued the interest of many in the crypto space as it implies that Dimon's firm will assume the role of buying Bitcoin for spot ETF issuers.

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