Bitcoin ETFs: JPMorgan's Skepticism, SEC Approval, and Financial Advisor Reactions

JPMorgan analysts have expressed skepticism about the recent crypto rally, stating that it is "rather overdone." They believe that the launch of bitcoin spot ETFs in the US is unlikely to attract fresh capital and that the upcoming bitcoin halving event is already priced in. The analysts also noted that the approval of spot ETFs by the SEC does not indicate a significant regulatory shift towards the crypto industry. They argue that existing bitcoin products and mining companies would likely benefit from spot ETFs, while new investors have shown limited interest in similar funds in other countries.