JPMorgan Invests $102 Million in Bitmine for Strategic Ethereum Exposure

JPMorgan Chase is deepening its involvement in the cryptocurrency market with a strategic investment of $102 million in Bitmine, a publicly traded company holding over 3 million ETH. This move signifies a shift towards a more structured approach to Ethereum exposure, bypassing direct digital asset management and opting for an indirect route through a listed company. While this strategy aligns with JPMorgan’s cautious approach towards crypto custody, it demonstrates the institution’s belief in Ethereum’s long-term potential as a future asset class.