JPMorgan: Tokenized Finance on Private Blockchains Is Bigger Threat to Bitcoin Than MicroStrategy
JPM sits 20% above its 52-week low of $279.1.
Summary
JPMorgan analysts, led by Nikolaos Panigirtzoglou, published a report arguing that the shift of payments and assets onto permissioned networks poses a larger long-term threat to Bitcoin than MicroStrategy's holdings. The bank's Kinexys platform has processed over $3 trillion and clears $7 billion daily, while the Canton Network—used by DTCC, HSBC, and Goldman Sachs—generated $60 million in fees in 30 days, dwarfing Ethereum's $11 million. More than 15 banks are collaborating on a tokenized deposit network via The Clearing House, targeting a 2027 launch. The report frames institutional preference for permissioned blockchains as a structural risk that could drain activity and capital from public chains. This follows JPMorgan's ongoing blockchain expansion and recent stress test clearance, reinforcing its strategic pivot toward private tokenized finance.
At the time of this announcement, JPM was trading at $334.44 on NYSE in the Finance sector, with a market capitalization of approximately $898.9B. The 52-week trading range was $279.10 to $343.45. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Beincrypto.