JPMorgan VS Bitcoin! What's this big drama about?

$iShares Bitcoin Trust ETF(IBIT.US)

The relationship between JPMorgan and Bitcoin/cryptocurrencies is essentially Wall Street's most classic "say no with the mouth but the body is honest" script, and in 2025, this drama has reached its climax.

I (actually Grok. 😂) went through all the news on X.com and mainstream media recently (throughout 2025, especially Q3-Q4), and after peeling back the layers, the core conclusion is just one sentence:

JPMorgan is not Bitcoin's enemy at all; it just wants to "co-opt" Bitcoin into its own plate.

Jamie Dimon is still stubborn personally (publicly calling Bitcoin a fraud / pet rock / decentralized Ponzi at least three times in 2025), but at the institutional level, they have completely surrendered, and they're doing it more aggressively than anyone else. Here's the ironclad evidence:

Frenzied buying of Bitcoin ETFs
2025 Q3 13F filings show that JPMorgan holds 5.28 million shares of BlackRock's IBIT (≈$343 million), a 64% quarterly increase, while also holding Bitcoin trusts from Fidelity, ARK, Bitwise, and Grayscale.
They're not "attacking" Bitcoin; they're using client and proprietary funds to hoard Bitcoin like crazy.

Launching their own Bitcoin leveraged products (just these days)
Latest news on November 25-26: JPMorgan filed with the SEC to launch structured notes linked to IBIT, offering clients 1.5x uncapped leverage to go long on Bitcoin, with principal protection for drops within 30% and a maximum annualized fixed return of 16%.
This is no longer "allowing clients to buy Bitcoin"; this is actively helping clients add leverage to bet on Bitcoin's rise.
What Dimon calls a fraud has now become their new money-making toy.

Officially using Bitcoin/Ethereum as loan collateral
Announced in October 2025: Institutional clients can use BTC/ETH as direct collateral by year-end.
This means they're using the traditional bank's hardest business (lending) to embrace crypto assets.

They're playing stablecoins bigger than anyone else

Already upgraded JPM Coin to a deposit token (Deposit Token) and promoted it to institutional clients on a large scale.
November 12 Bloomberg report: JPM Coin is starting to land in institutions.
Their analysts directly issued a report saying: Stablecoins could bring $1.4 trillion in additional dollar demand by 2027.
They even wrote a special report praising Circle's USDC growth far exceeding USDT (USDC rose 72% in 2025, USDT only 32%).

Analysts collectively bullish on Bitcoin
Nikolaos Panigirtzoglou (JPMorgan's chief strategist) November 2025 report:

Bitcoin production cost ≈$94,000, a strong support
Based on the gold volatility equivalence model, Bitcoin's fair value is $165,000-$170,000
Bitcoin is the best target for "debasement trade"
This is already one of Wall Street's most aggressive bullish voices.

So the real picture is:

Jamie Dimon's stubbornness is just "performative opposition," meant to:

Play innocent in front of regulators ("See, I personally oppose it")
Suppress public sentiment, letting institutions accumulate at low prices (classic move)
Keep the moral high ground when launching their own crypto products ("I personally hate it, but clients want it, so I have no choice")

But at the institutional level, they've already gone all-in, treating Bitcoin and stablecoins as the fattest business of the next decade.

They're not rejecting the arrival of cryptocurrencies,
They're desperately scrambling for tickets,
And they want to sit in first class.

USDT's global potential? They see it clearer than anyone—that's why they're rushing to launch their own deposit stablecoin, trying to snatch this piece of the pie for themselves.

Conclusion:
JPMorgan is not Bitcoin's enemy,
It's the most hypocritical and fattest pig in the Bitcoin bull market.
It curses while eating the most.

That's the naked reality of 2025.
The clearer you see it, the more you know which side to stand on.