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JPMorgan CEO criticized for Bitcoin ETF role amid anti-crypto comments

Pro-XRP lawyer John Deaton questioned whether being named an authorized participant by BlackRock was an attempt to mislead the public or engage in gaslighting.

JPMorgan CEO Jamie Dimon is being criticized by the crypto community on X (formerly Twitter) after being named an authorized participant (AP) by BlackRock, which dropped its updated Form S-1 filing on Dec. 29.

Commenting on the BlackRock amendment, Bloomberg ETF analyst Eric Balchunas said, “BlackRock just dropped its updated S-1, and it DOES name the APs: Jane Street and JPMorgan (which is kinda ironic).”

An authorized participant is an organization with the right to create and redeem shares of an exchange-traded fund (ETF).

BlackRock’s updated filing named Jane Street and JPMorgan Securities “authorized participants” in its proposed spot Bitcoin ETF application. However, Dimon hasn’t endorsed Bitcoin
BTC

tickers down
$42,657

publicly.

In a Dec. 6 hearing of the United States Senate Banking Committee on oversight of Wall Street firms, Dimon told several U.S. lawmakers that if he had the authority in government,

إقرأ أيضا:Former SEC official compares Dallas Mavericks’ Voyager partnership to heroin

he would try to shut down crypto, claiming Bitcoin and cryptocurrency’s “only true use case” is to facilitate crime.

إقرأ أيضا:CFTC chief says Bitcoin is the only commodity in the wake of FTX collapse

Crypto pundits have quickly pointed out the hypocrisy of JPMorgan as an authorized participant in BlackRock’s spot Bitcoin ETF. “Perhaps money laundering, tax evasion,

criminal participation, and drug trafficking is their business as well,” said crypto enthusiast Silver Zimmermann on X.

“If BlackRock wants to do all that, then fine, but how can JP Morgan do all that after telling Congress and Elizabeth Warren that this is what it’s used for?” another user, Sunny Po, asked on X.

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