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JPMorgan will release a managed fund for Bitcoin investors this summer, but will not maintain custody of a Bitcoin wallet – rather, the custody of cryptocurrencies will be outsourced to NYDIG. The mega bank seems to be the least likely institution to embrace Bitcoin, given the comments made by its CEO.
Dimon, meanwhile, is more concerned about the economy. He says that the risk of stagflation is most likely two times the amount factored in by the market. Dimon believes that stagflation will cause many problems for banks and companies. Dimon has both positive and negative things to say about Trump’s administration. He praises regulatory efforts and states that there is a clear motive to fix problems in that area. But he also points out that JPMorgan has lost a lot of business due to Trump’s tariff war.
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