Institutional Interest in Crypto Remains in Initial Phases, According to JPMorgan

Institutional Crypto Adoption Shows Early Signs of Growth: JPMorgan

While institutional adoption of crypto remains in its early stages, momentum is accelerating, according to a Wednesday report from JPMorgan.

Institutions currently hold about 25% of bitcoin ETPs, and an EY survey reveals that 85% of firms already invest in digital assets or plan to in 2025, with regulatory clarity cited as a primary driver.

Bullish’s (BLSH) August IPO and the passage of the GENIUS Act have further sparked institutional interest by reducing regulatory uncertainty, the report noted.

Activity is rising across the sector: the CME reported record institutional open interest in crypto derivatives, while Ether (ETH) and Solana (SOL) remain key vehicles for institutional exposure. Since the GENIUS Act, ETH has gained nearly 20% and SOL 17%.

Bullish has also emerged as a proxy for institutional engagement in equities, with shares climbing 45% since its IPO. Additional momentum could come if the exchange secures a BitLicense later this year. JPMorgan maintains a neutral rating on Bullish shares with a $50 target; shares traded at $54.50 on Wednesday.