Remember when Jamie Dimon was yelling and screaming that Bitcoin is a "fraud that will eventually blow up", that he'd "close it down if he was the government", and that crypto's only "true use case is for criminals, drug traffickers, money laundering and tax avoidance"?

Well, it turns out the bank that has paid out $40 billion in fines, penalties and legal settlements as a recidivist criminal enterprise, has decided to double down on crime by its own definition...

... and today we learned that not one but two giant asset managers - Invesco as well as the world's biggest asset manager and the Fed's own trading desk, Blackrock - both named JPMorgan as their Authorized Participant, i.e., the intermediary firm that will make the ETF possible in the first place by converting bitcoin into cash and vice versa.