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-0.000310977505960355 -0.000251684461490607 0.00242562454649117 0.00450212501295742 0.00466466258940603 0.00466466258940603 0.00466466258940603 0.00466466258940603
Stock impact report

JPMorgan's institutional crypto push could boost rivals like Coinbase, Bullish, analysts say [Yahoo! Finance]

Coinbase Global, Inc. - Class A (COIN) 
US:NASDAQ Investor Relations: convertedorganic.com
Company Research Source: Yahoo! Finance
According to analysts, the Wall Street giant's entrance may benefit existing players like Coinbase (COIN), Bullish (BLSH), and Galaxy Digital (GLXY) even as it signals stiffer competition ahead. “If JPMorgan offers crypto trading to institutional clients, it will be a big positive to the space,” said Owen Lau, analyst at ClearStreet. “It will further legitimize crypto and increase distribution channels," he continued. "The domino effect will likely cascade down to other banks. Coinbase and Bullish are well positioned to benefit from aggregating and matching institutional orders from this large distribution channel.” “JPMorgan is a broker, they potentially use exchanges to match the orders,” Lau continued. That opens the door for platforms like Coinbase Prime and Bullish — which already offer institutional-grade crypto execution — to play a key role in settling those trades. Read more: JPMorgan weighs crypto trading for institutions amid growing demand Still, the move adds new Show less Read more
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