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Institutional Demand Has Fueled Bitcoin’s Recent Outstanding Performance, Says JPMorgan

During the last few weeks, Bitcoin whale wallet inflows have continued to increase in line with the institutional demand for the token. These remarks were added in a report from a JPMorgan analyst.

JPMorgan’s Report on Bitcoin

Nikolaos Panigirtzoglou has published his latest analysis regarding the factors resulting in the positive price movement of Bitcoin. He cited in his report that optimism around the approval of the first-ever Bitcoin spot ETF is one of the major reasons behind increasing institutional interest in the cryptocurrency.

He retained that these changes in turn have led to the rise of Bitcoin prices. The report was published on Wednesday and further revealed that Bitcoin market dominance has also improved in comparison to altcoins during the same period.

He claimed that Bitcoin price charts during the last few weeks indicate an ATH on a year-to-date basis. He also said that the biggest portion of market inflows into the token is a result of massive institutional investments. The report issued by the investment banking enterprise also shed light on the futures trading section on this account.


Analyst Panigirtzoglou claimed that futures investments based on CME issued Bitcoin futures are among most invested Bitcoin derivatives. New BTC futures positions among institutional investors spiked for last week reached the highest level since the start of 2023 as well as since the collapse of the FTX exchange.

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Ethereum Futures Adoption Plunges

JPMorgan has stated that while Bitcoin futures contract adoption among commercial investors has hit a yearly high, the same is not the case for ETH. The analyst noted that ETH futures positions have remained subdued.

Meanwhile, Institutional demand for Bitcoin is also reflected in the massive inflows with the majority of BTC whales incrementing their Bitcoin holdings. The change is in contrast to Bitcoin investment during the previous quarters when Bitcoin price movement was affected by smaller wallet accounts and retail traders.

JPMorgan is counted among the big 4 investment banks in the USA, listed alongside Wells Fargo, Citibank and Bank of America (BoFA). The bank has taken a positive stance on cryptocurrency market for a long time.

In 2019, JPMorgan introduced its JPM Coin a CBDC issued by permissioned and private blockchain. JPM coin is used to make institutional settlement.

A Bloomberg report recently noted that JPM coin handles around $1 billion in daily transaction volume. The bank is working on making JPM Coin the most widely accepted and used CBDC within USA.

Achievements of JPM Coin

Quant network recently posted update regarding the success and achievements of JPM Coin. The post noted form Quant noted that CBDCs are coming and forward-thinking approach of JPMorgan bank is reflected in its token issued to facilitate the wholesale payments for financial institutions.

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The post noted that JPM coin has been dubbed as a blockchain-base bank account. At the same time, the bank also shared various use cases for the virtual currency.

Quant also shared an article regarding JPM coin that shared its various use cases such as fast and secure payments and efficient transaction settlements for commercial transactions. Another important feature of the coin is tokenization as every unit of JPM coin represents one USD.

Furthermore, the JPM coin is easily accessible to institutional investors. The bank also talked about adding new features to the coin such as integration, expansion, CBDC development, and global acceptance.

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Hassan Mehmood (Saudi Arabia)

Hassan is currently working as a news reporter for Tokenhell. He is a professional content writer with 2 years of experience. He has a degree in journalism.

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