22:54:58 EDT Tue 16 Apr 2024
Enter Symbol
or Name

JPMorgan CDR (CAD Hedged)
Symbol JPM
Shares Issued 2,150,000
Close 2024-02-20 C$ 24.19
Market Cap C$ 52,008,500
Recent Sedar Documents

Globe/wire say JPMorgan sees bitcoin prices improving

2024-02-21 08:37 ET - In the News

The Globe and Mail reports in its Wednesday, Feb. 21, edition that bitcoin is riding high. A Reuters dispatch to The Globe reports that the world's largest cryptocurrency has leapt 22 per cent this year to $52,005, pushing it past a market value of $1-trillion mark for the first time since its record heyday of late 2021 (all figures U.S.). Its resurgence has electrified the broader cryptocurrency market, including ether and other digital coins, which has now exceeded $2-trillion. The sector has been bolstered by the U.S. regulatory approval of several spot bitcoin exchange traded funds, from Blackrock and Fidelity among others, which allow access to the crypto coin via regular stock exchanges. The U.S. spot ETFs added 60,000 bitcoin in the first month of their launch, more than twice the miner production in the same period, brokerage Bernstein said. "The amount of flows far outstrips anyone's expectation," said 3iQ research head Mark Connors. JPMorgan analysts said, "The bitcoin appreciation is contributing to better spot bitcoin ETF flows, which is in turn driving bitcoin prices higher, and pulling other tokens higher as well." Many industry watchers say the outlook is looking bright at the moment.

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