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JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with nearly $4 trillion in assets. It is organized into four major segments: consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. JPMorgan operates, and is subject to regulation, in multiple countries.

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JPMorgan USD Emerging Markets Sovereign Bond ETF

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J P Morgan Chase & Co Depositary Shares, each representing a 1/400th interest in a share of 6.00% Non-Cumulative Preferred Stock, Series EE

J P Morgan Chase & Co Depositary Shares, each representing a 1/400th interest in a share of 5.75% Non-Cumulative Preferred Stock, Series DD

J P Morgan Chase & Co Depositary Shares, each representing a 1/400th interest in a share of JPMorgan Chase & Co. 4.75% Non-Cumulative Preferred Stock, Series GG

J P Morgan Chase & Co Depositary Shares, each representing a 1/400th interest in a share of 4.55% Non-Cumulative Preferred Stock, Series JJ

J P Morgan Chase & Co Depositary Shares, each representing a 1/400th interest in a share of 4.625% Non-Cumulative Preferred Stock, Series LL

J P Morgan Chase & Co Depositary Shares, each representing a 1/400th interest in a share of 4.20% Non-Cumulative Preferred Stock, Series MM

CEO of JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Jamie Dimon, has reportedly made a commitment to intensify the bank&#8217;s association with Chinese capital markets.
What Happened:&nbsp;Dimon&#8217;s pledge follows a meeting with high-ranking Chinese officials, including Beijing&#8217;s chief trade negotiator, He Lifeng. This comes after a recent agreement between Beijing and Washington to decrease&nbsp;tariffs, indicating a significant relaxation of trade tensions.
Dimon praised the outcomes of the U.S.-China economic talks and stated that JPMorgan Chase will &#8220;deepen its engagement&#8221; in China's capital market to support both multinational firms operating in China and Chinese companies expanding internationally, <a href="https://english.news.cn/20250522/aa08f23f706c4ff98c10011f430fe290/c.html">as per</a> the Xinhua news agency.
He Lifeng, a close associate of President Xi Jinping, voiced China&#8217;s wish for U.S. companies to continue contributing to the &#8220;healthy, stable and sustainable development&nbsp;of China-U.S. economic and trade&nbsp;relations.&#8221;
Amid strained political ties with Washington, Beijing has continued to engage top U.S. business leaders like Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) CEO Tim Cook, Bridgewater&#8217;s founder Ray Dalio and NVDIA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang.
JPM did not immediately respond to <a href="http://pro.benzinga.com">Benzinga&#8217;s</a> request for comment. 
SEE ALSO:&nbsp;<a href="https://benzinga.com/25/05/45577818/jamie-dimon-says-he-never-bought-into-american-exceptionalism-he-blames-regulation-and-stupid-bureaucracy-for-slo" target="_blank" rel="noreferrer noopener">Jamie Dimon Says He Never Bought Into American Exceptionalism. He Blames Regulation And &#8216;Stupid Bureaucracy&#8217; For Slowing The Country Down</a>
Why It Matters: Dimon&#8217;s commitment to strengthen ties with China comes at a time when U.S. companies have been treading carefully in China due to rising tariffs and escalating tensions during U.S. President Donald Trump&#8216;s second term.
Dimon&#8217;s commitment to China is slightly contrasting to his support for&nbsp;Trump&#8217;s <a href="https://www.benzinga.com/news/25/01/43150451/jamie-dimo-supports-trumps-tariffs-if-it[%E2%80%A6]tle-inflationary-but-its-good-for-national-security-so-be-it">tariffs&nbsp;</a>on several countries including China. In January 2024, Dimon even said Trump was right to an extent about China. &#8220;Take a step back, be honest. He was kind of right about NATO, kind of right on immigration. He grew the economy quite well. Trade tax reform worked. He was right about some of China,&#8221; The JPMorgan chief <a href="https://www.cnbc.com/2024/01/17/jamie-dimon-praises-trump-warns-maga-criticism-could-hurt-biden.html">told </a>CNBC. 
Recently, Dimon has become vocal about the need for <a href="https://benzinga.com/markets/25/04/44861156/america-first-is-ok-but-not-america-alo[%E2%80%A6]s-china-engagement-amid-trade-tensions-start-with-a-phone-call">consistent dialogue</a> between the U.S. and China to alleviate trade tensions. He also highlighted concerns about China's excess production impacting global markets, stating it is alarming countries like Japan, Korea, Indonesia, Vietnam and India. He called on Chinese authorities to address these issues.
Over the past few days, Dimon has been warning about the potential for the U.S. economy to fall into <a href="https://www.benzinga.com/government/regulations/25/05/45561399/jamie-dimon-says-us-is[%E2%80%A6]gflation-risk-and-deficit-problems-amid-trump-china-tensions">stagflation</a> due to geopolitical risks, deficits and price pressures amid China tariffs.
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<li>READ MORE:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/05/45579297/peter-schiff-says-a-president-shouldnt-sell-white-house-tours-and-pocket-the-proceeds-as-trump-prepares-to-have-dinner-with-memecoin-holders" target="_blank" rel="noreferrer noopener">Peter Schiff Says A President Shouldn&#8217;t &#8216;Sell White House Tours&#8217; And Pocket The Proceeds As Trump Prepares To Have Dinner With Memecoin Holders &#8211; Benzinga</a></li>
</ul>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Jamie Dimon, Who Once Said Trump Was 'Right About Some Of China,' Now Reportedly Appears To Be Siding With Xi Jinping Amid Washington-Beijing Tensions

The U.S. House of Representatives narrowly passed President Donald Trump&#8216;s $3.8 trillion tax-and-spending package on Thursday by a 215-214 margin, sending shockwaves through bond markets as 30-year Treasury yields spiked to 5.15% — the highest level since October 2023.
What Happened: The legislation, which Trump called his &#8220;big, beautiful&#8221; tax bill, now heads to the Senate for approval before the July 4 recess. While the package promises immediate economic stimulus through broad tax cuts and increased defense spending, market analysts warn of significant long-term fiscal consequences.
&#8220;It reduces taxes for lots of people, it increases spending, especially on defense,&#8221; said Jed Ellerbroek, portfolio manager at Argent Capital Management, in a CNBC <a href="https://www.cnbc.com/2025/05/23/cnbc-daily-open-trumps-tax-bill-might-only-have-short-term-benefits.html">interview</a>. &#8220;Simply put, it will boost the economy in the short term.&#8221; However, Ellerbroek cautioned that the bill will likely burden America with higher fiscal deficits as tax cuts reduce government revenue while defense spending increases expenses.
See Also: <a href="https://www.benzinga.com/news/global/25/05/45579810/as-trump-xi-jinping-silence-drags-on-china-and-us-reopen-diplomatic-lines-amid-looming-trade-truce-deadline-and-tech-tensions">As Trump-Xi Jinping Silence Drags On, China And US Reopen Diplomatic Lines Amid Looming Trade Truce Deadline And Tech Tensions</a>
Why It Matters: The Congressional Budget Office and Committee for a Responsible Federal Budget estimate the legislation could increase national debt by $2.3 trillion to $5.7 trillion by 2034, depending on whether key tax provisions are extended. With federal debt <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45564489/trumps-big-tax-bill-clears-the-house-30-year-yields-jump-to-515-as-bond-market-freaks">already at a record $36.2 trillion</a>, this trajectory raises concerns about debt sustainability.
Bond market volatility reflects investor uncertainty about lending to the government at current rates. The 10-year Treasury yield fell to 4.53% on Thursday after touching higher levels, while elevated yields compared to earlier this year suggest investors demand higher compensation for fiscal risk.
Stock markets showed mixed reactions, with the S&amp;P 500, tracked by SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Dow Jones Industrial Average, tracked by SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>), closing mostly flat.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Trump's 'Big, Beautiful' $3.8 Trillion Bill Squeaks Through House: Expert Says It Will 'Boost The Economy In The Short Term,' But Worsen Deficits

Top U.S. banks are contemplating a joint venture to issue a dollar-pegged stablecoin in an attempt to counter the increasing competition from the cryptocurrency sector, according to a report dated Thursday.
What Happened: Companies co-owned by&nbsp;JPMorgan Chase&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>),&nbsp;Bank of America&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>),&nbsp;Citigroup&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), and&nbsp;Wells Fargo&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) are exploring the possibility of a joint stablecoin, the Wall Street Journal reported, citing sources familiar with the matter. The discussions, still in their infancy, involve Early Warning Services, the operator of&nbsp;mobile payment app Zelle, and the Clearing House,&nbsp;a real-time payment network.
The decision to proceed with the stablecoin will hinge on several factors, including&nbsp;legislative actions around stablecoins and&nbsp;the demand for them. The banking industry has been gearing up for the potential widespread adoption of stablecoins, which could divert&nbsp;the deposits and transactions they&nbsp;handle.
A Bank of America spokesperson declined to comment when contacted by Benzinga. Responses from other banks are awaited.
See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/05/45579297/peter-schiff-says-a-president-shouldnt-sell-white-house-tours-and-pocket-the-proceeds-as-t" target="_blank" rel="noreferrer noopener">Peter Schiff Says A President Shouldn&#8217;t &#8216;Sell White House Tours&#8217; And Pocket The Proceeds As Trump Prepares To Have Dinner With Memecoin Holders</a>
Why It Matters: The potential joint venture by these banking giants comes at a time when the Senate is making strides towards the final passage of the <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45510057/senate-crypto-bill-passes-key-vote-genius-act-moves-toward-final-passage">GENIUS Act, also known as the stablecoin bill</a>. The proposed legislation aims to establish the first U.S. regulatory framework for issuers of stablecoins—digital tokens that are tied to fiat currencies like the dollar.
The SEC has already clarified that <a href="https://www.sec.gov/newsroom/speeches-statements/statement-stablecoins-040425#_ftn4">certain stablecoins</a>, particularly those pegged to the U.S. dollar and backed by low-risk, liquid assets, are not securities.
Price Action:&nbsp; Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>), an exchange-traded fund that exposes investors to the major U.S. money banks. closed 0.12% lower at $50.23 during Thursday&#8217;s trading session, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
The stock exhibited a moderately high momentum score as of this writing. To access more such high-momentum banking ETF stocks, visit <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge Stock Rankings</a> for more details.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="717" height="174" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/22235624/Screenshot-2025-05-23-092605.png" alt="" class="wp-image-925274" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/22235624/Screenshot-2025-05-23-092605.png 717w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/22235624/Screenshot-2025-05-23-092605-300x73.png 300w" sizes="(max-width: 717px) 100vw, 717px" /></a></figure>
Photo Courtesy: Panchenko Vladimir on Shutterstock.com
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

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JPMorgan, Bank Of America, And Other Banking Titans Discussing Joint Stablecoin To Tackle Crypto Competition: Report

Jamie Dimon says the U.S. can&#8217;t take its status as the world&#8217;s top economic power for granted anymore.
In a recent interview with <a href="https://www.youtube.com/watch?v=xCSFDihV51g">Bloomberg Television</a>, the JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO was asked whether he worries about U.S. supremacy and exceptionalism. He answered, perhaps surprisingly, that he never quite believed in American exceptionalism and warned that regulation and what he called &#8220;stupid bureaucracy&#8221; are holding the country back.
<h2 class="wp-block-heading">Dimon Says U.S. Risks Falling Behind</h2>
&#8220;We've slowed ourselves down with regulation, stupid bureaucracy,&#8221; Dimon said. &#8220;We haven't done budgets in years. So, no, we shouldn't assume it's forever.&#8221;
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He pointed to a long list of issues that are weighing on the economy: inflation, deficits, rising interest rates, and ongoing global conflicts.
&#8220;There&#8217;s a lot of uncertainty out there that you can&#8217;t discount,&#8221; he said, mentioning the war in Ukraine, terrorism, instability in the Middle East and U.S. deficits. He also highlighted the risks created by tariffs, saying that although the U.S. has backed off some of its earlier moves, even the current level of trade tension is causing companies to hesitate.
&#8220;Even at this level, you see people holding back on investment and thinking through what they want to do,&#8221; Dimon said.
On the <a href="https://www.benzinga.com/25/04/45071155/mild-recession-is-best-case-outcome-jpmorgan-ceo-jamie-dimon">possibility of a U.S. recession</a>, Dimon didn&#8217;t give a firm prediction. Instead, he deferred to economists and put the chances at &#8220;about 50%.&#8221; Interestingly, JPMorgan&#8217;s analysts raised their <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44645681/jpmorgan-raises-recession-risk-to-60-as-largest-us-tax-hike-in-60-years-hits-global-economy">recession probability to 60%</a> in April, up from 40% in March.&nbsp;
He added, &#8220;All these things are probably inflationary&#8230; and slowing down the economy.&#8221;
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — <a href="https://www.benzinga.com/money/boxabl-scaling-fast-from-spacex-orders-to-600-homes-built-this-60k-foldable-home-may-be-the-future-of-housing">this is your last chance to become an investor for $0.80 per share.</a>
<h2 class="wp-block-heading">Is America a Bad Investment Destination?&nbsp;</h2>
Still, despite the challenges, Dimon said America remains the top choice for investment: &#8220;If you would take all of your money and put it in one country, it would still be America.&#8221;
However, he cautioned that this dominance isn't guaranteed. "You do not have a divine right to success,&#8221; he said. &#8220;If we don't do everything right, we can lose that.&#8221;
Dimon also expressed admiration for some foreign leaders who he believes are taking a more business-friendly approach. He praised French President Emmanuel Macron, U.K.&nbsp; Prime Minister Keir Starmer and German Chancellor Friedrich Merz for their pro-business attitudes. &#8220;I think Macron is one of the best political leaders on the planet today.&#8221;
On global competition, Dimon was frank: &#8220;Assume competition. Assume they&#8217;re coming at you in every angle.&#8221;
See Also: Nancy Pelosi Invested $5 Million In An AI Company Last Year — <a href="https://www.benzinga.com/money/elf-labs-ym?v=123">Here's How You Can Invest In Multiple Pre-IPO AI Startups With Just $1,000.</a>
Asked about <a href="https://www.benzinga.com/markets/25/05/45336194/charlie-mungers-timeless-advice-for-navigating-volatile-markets-be-fearful-when-others-are-greedy-and-be-greedy-when-others-are-fearful">market volatility</a>, Dimon said he expects it to continue and warned against assuming it will go away anytime soon.
&#8220;I think it&#8217;s a mistake to think we can go through all the things we&#8217;re going through and the volatility itself will come down,&#8221; he said.
As for JPMorgan&#8217;s <a href="https://www.benzinga.com/news/25/05/45483359/jamie-dimon-says-dont-tell-jpmorgan-what-to-do-as-he-tells-remote-workers-you-cant-learn-working-fro">return-to-office policy</a>, which drew <a href="https://www.benzinga.com/markets/equities/25/02/43757032/jamie-dimon-goes-off-on-return-to-office-critics-you-dont-have-to-work-at-jpmorgan">media attention</a> earlier this year, Dimon stood firm: &#8220;I&#8217;m not against work from home. I&#8217;m against work when it doesn&#8217;t work.&#8221;
He said the company has seen no additional attrition and that young employees especially need in-person experience to grow.
&#8220;It&#8217;s an apprenticeship system and you can&#8217;t learn working from your basement,&#8221; Dimon said.
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Image: Shutterstock

Jamie Dimon Says He Never Bought Into American Exceptionalism. He Blames Regulation And 'Stupid Bureaucracy' For Slowing The Country Down

<h2 class="wp-block-heading">Zinger Points:</h2>
<ul class="wp-block-list">
<li>Chime reports a $13 million Q1 profit after narrowing 2024 net loss to $25 million — a </li>
<li>Some 76% of Chime's revenue still comes from interchange fees despite efforts to diversify.</li>
<li>With $518 million in 2024 marketing spend, Chime doubles down on Gen Z growth ahead of IPO.</li>
</ul>
Digital banking disruptor Chime has filed for an IPO, positioning itself as the first major fintech to test public markets after a period of market uncertainty, particularly influenced by President Donald Trump&#8216;s recent tariff policies.&nbsp;
The San Francisco-based neobank reported $518.7 million in revenue and $12.9 million in net income for the first quarter of 2025, a 32% year-over-year increase, according to its <a href="https://www.sec.gov/Archives/edgar/data/1795586/000162828025025059/chimefinancialinc-sx1wq1da.htm">registration statement filed</a> last week with the U.S. Securities and Exchange Commission. While profit dipped slightly from the previous quarter, the company's operational momentum and 8.6 million active members underscore its readiness to go public.&nbsp;
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The IPO, underwritten by Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), and JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), could value the company between $20 billion and $25 billion, based on projections in the filing.
The timing is strategic. Chime's IPO comes just weeks after trading platform eToro's successful public debut. Founded in 2012, Chime has raised $2.65 billion from blue-chip investors including SoftBank, General Atlantic, and Tiger Global — a war chest that helped it capture 18 million account holders. Chime's appeal to digital-native, mobile-first users makes its move particularly bold, as it targets a segment that has historically been underserved by traditional banks yet increasingly drives financial innovation.
<h2 class="wp-block-heading">Youth Movement Meets Market Volatility</h2>
According to registration statement, Chime posted $2.1 billion in revenue in 2024 — a 38% increase from the prior year — while narrowing its net loss from $203 million to $25 million. Other metrics also point to strong engagement: 78% of users log in daily, and 43% use its early paycheck access feature.
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But risks loom. While the company hasn&#8217;t disclosed share count or pricing, analysts note Chime's continued dependence on interchange fees — 76% of total revenue in 2024, down from 80% two years earlier — could expose it to regulatory shifts, Forbes reported. Its young user base also maintains lower average balances than traditional bank customers, according to the SEC filing. The company, which plans to list on the Nasdaq under ticker symbol CHYM, is aiming to go public later this year.
<h2 class="wp-block-heading">The Tariff Wildcard</h2>
The IPO landscape showed tentative signs of revival in March, when AI infrastructure firm CoreWeave Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWV#NASDAQ">CRWV</a>)'s <a href="https://in.benzinga.com/content/45335117/investing-in-coreweave-key-insights-on-the-nvidia-backed-ai-ipo">successful debut</a> broke a prolonged tech listing drought. That momentum stalled abruptly in April, as <a href="https://in.benzinga.com/25/04/44878334/trumps-tariffs-just-slammed-the-ipo-window-shut-for-fintech">Trump's renewed tariff threats</a> on Chinese imports rattled markets. Klarna, StubHub, and initially even Chime, postponed their offerings, according to media reports. Now, Chime's decision to proceed positions it as a test case for whether fintechs can navigate the current geopolitical climate to access public markets. The move comes just weeks after eToro's well-received listing, <a href="https://www.bloomberg.com/news/articles/2025-05-14/trading-platform-etoro-surges-42-after-620-million-upsized-ipo">Bloomberg</a> reported, suggesting cautious optimism may be returning to the sector.
Market observers will be watching how the IPO&#8217;s structure takes shape in the coming weeks, especially given the involvement of bulge-bracket underwriters. As the first fintech to test Wall Street's appetite in this new era of trade tensions, Chime's performance could set the tone for a wave of public offerings — or reinforce investor caution.
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<li>Invest where it hurts — and help millions heal:<a href="https://www.benzinga.com/money/a-cure-for-osteoarthritis-powered-by-everyday-investors-cytonics-is-looking-to-beat-big-pharma-and-disrupt-a-390-billion-market"> Invest in Cytonics and help disrupt a $390B Big Pharma stronghold</a>.</li>
</ul>
Image: Shutterstock

CRWV

Chime Files For IPO, Betting On Gen Z To Power Fintech's Market Comeback

<a href="https://www.theinformation.com/articles/jpmorgan-lend-7-billion-openai-data-center">https://www.theinformation.com/articles/jpmorgan-lend-7-billion-openai-data-center</a>

General

MSFT

'JPMorgan to Lend More Than $7 Billion For OpenAI Data Center'- The Information

Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) is trading at $2669, marking a <a href="https://www.benzinga.com/money/how-to-buy-ethereum">steady rise toward the $3000 mark</a>. The second-largest cryptocurrency by market cap has surged over 5% over the past week amid rising institutional interest, with BTCS boosting holdings, RWA tokenization on Ethereum Layer-2s, and a bullish price structure.
Blockchain company, BTCS Inc., has expanded its ETH holdings with a fresh purchase of 3450 ETH amounting to $8.43 million. The company's total Ethereum holdings are over 12,500 ETH, marking a 38% increase.
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CEO Charles Allen stated that Ethereum is central to BTCS's blockchain infrastructure approach. The company is enhancing the base needed to scale validator operations and boost staking income, while delivering sustained value to shareholders.&nbsp;
According to Cointelegraph, Real Vision founder, Raoul Pal, is pushing back at the skepticism surrounding Ethereum's future by calling it the "Microsoft of blockchain." He argued that traditional finance sees Ethereum as the clear base layer for tokenization, noting that firms such as JP Morgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), and Goldman Sachs Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) are highly unlikely to build on Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>).&nbsp;
Analysts from AllianceBernstein Holding L.P. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AB#NYSE">AB</a>) echoed the sentiment, crediting Ethereum's price recovery to the growing recognition that traditional finance has already tokenized billions in US Treasuries and commodities.
Arthur Hayes, the co-founder of BitMEX, has doubled down on his forecast that Ethereum could reach its long-term target of $15,000. According to the Bankless Podcast, Arthur said a US $10,000 to US $15,000 price for ETH is far from unrealistic, citing a shift in the market sentiment.
"Everybody thought it was dead, but the most hated coin goes up fastest in the next cycle," he said. Hayes added that Ethereum's comeback is natural after being overshadowed by Solana, while pointing to the Pectra upgrade as a positive catalyst.
Buyers have remained active near the $2440 level, where ETH has formed a base for an upward move. ETH price broke past $2500 and $2520, crossing the 50% Fibonacci retracement of the drop from the $2615 high to the $2442 low.
A breakout above $2720 could push a rally toward $2840 and potentially $2920, or even $3000 in the short term. A failure to breach $2629 could trigger another dip, with the initial support at $2525 and major support at $2500.
With growing institutional backing, expanding layer 2 development, and bullish technicals, Ethereum is positioning itself for not just a break above $3000 but for a sustained rally that could redefine its position.
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Image: Shutterstock

$ETH

$SOL

Ethereum Hits $2669 Amid Institutional Flows, RWA Tokenization Fueling Bullish Breakout

Macro Economic Events

Global

China's Vice Premier He Lifeng Met With JP Morgan CEO Jamie Dimon In Beijing; China's Vice Premier He Lifeng Says China Welcomes U.S. Firms, Including JP Morgan Chase To Deepen Mutually Beneficial Cooperation With China; JP Morgan's Dimon, In Meeting With China's He, Says Willing To Continue Cultivate Chinese Capital Market, Better Serve Business Operations Of Multinational Companies In China And Overseas Development Of Chinese Companies

Investors with a lot of money to spend have taken a bullish stance on JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with JPM, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://www.benzinga.com/pro/">Benzinga</a>'s options scanner spotted 9 uncommon options trades for JPMorgan Chase.
This isn't normal.
The overall sentiment of these big-money traders is split between 55% bullish and 33%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $367,713, and 2 are calls, for a total amount of $61,730.
<h3>What's The Price Target?</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $200.0 to $350.0 for JPMorgan Chase over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for JPMorgan Chase options trades today is 1022.4 with a total volume of 306.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for JPMorgan Chase's big money trades within a strike price range of $200.0 to $350.0 over the last 30 days.
<h3>JPMorgan Chase Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1747922470_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th align="right">Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>JPM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/15/25</td>
<td>$17.25</td>
<td>$17.0</td>
<td>$17.0</td>
<td>$270.00</td>
<td>$100.3K</td>
<td align="right">357</td>
<td align="right">177</td>
</tr>
<tr>
<td>JPM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/15/25</td>
<td>$17.1</td>
<td>$17.0</td>
<td>$17.06</td>
<td>$270.00</td>
<td>$51.1K</td>
<td align="right">357</td>
<td align="right">31</td>
</tr>
<tr>
<td>JPM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/15/25</td>
<td>$17.25</td>
<td>$17.0</td>
<td>$17.07</td>
<td>$270.00</td>
<td>$51.0K</td>
<td align="right">357</td>
<td align="right">31</td>
</tr>
<tr>
<td>JPM</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>08/15/25</td>
<td>$17.55</td>
<td>$17.55</td>
<td>$17.55</td>
<td>$270.00</td>
<td>$50.8K</td>
<td align="right">357</td>
<td align="right">90</td>
</tr>
<tr>
<td>JPM</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>08/15/25</td>
<td>$17.7</td>
<td>$17.65</td>
<td>$17.65</td>
<td>$270.00</td>
<td>$49.4K</td>
<td align="right">357</td>
<td align="right">90</td>
</tr>
</tbody>
</table>

<h3>About JPMorgan Chase</h3>
JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with nearly $4 trillion in assets. It is organized into four major segments: consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. JPMorgan operates, and is subject to regulation, in multiple countries.
In light of the recent options history for JPMorgan Chase, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Where Is JPMorgan Chase Standing Right Now?</h3>
<ul>
<li>Currently trading with a volume of 586,816, the JPM's price is down by -0.07%, now at $260.87. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 54 days.</li>
</ul>
<h3>Professional Analyst Ratings for JPMorgan Chase</h3>
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $273.2.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage">Click here for access</a>. 
&#x2A; Consistent in their evaluation, an analyst from Baird keeps a Neutral rating on JPMorgan Chase with a target price of $235. 
&#x2A; Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for JPMorgan Chase, targeting a price of $285. 
&#x2A; Consistent in their evaluation, an analyst from TD Securities keeps a Buy rating on JPMorgan Chase with a target price of $315. 
&#x2A; Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on JPMorgan Chase with a target price of $295. 
&#x2A; An analyst from Morgan Stanley persists with their Equal-Weight rating on JPMorgan Chase, maintaining a target price of $236. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for JPMorgan Chase, <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> gives you real-time options trades alerts.

Options

Behind the Scenes of JPMorgan Chase's Latest Options Trends

The U.S. House narrowly passed President Donald Trump's sweeping tax-cut bill Thursday, triggering a spike in Treasury yields as investors reacted to the bill's multi-trillion-dollar price tag and its long-term<a href="https://www.benzinga.com/government/regulations/25/05/45550324/us-bond-market-flashing-red-30-year-yield-tops-5-prices-tank-to-october-2023-lows"> implications for debt sustainability.</a>
The yield on 30-year Treasury bonds surged to 5.15% in early New York trading, marking the highest level since October 23, 2023. 
The move came after the House approved the $3.8 trillion tax-and-spending package by a razor-thin 215–214 margin, with all Democrats and two Republicans voting against it, and one Republican voting present.
The bill, dubbed by Trump as the "one big, beautiful bill," advances to the Senate, where a vote is expected before the July 4 recess. If enacted, it would enact broad tax cuts, increase spending, and lift the deficit trajectory by trillions over the next decade.
<h3 class="wp-block-heading">Debt Explosion In The Spotlight</h3>
JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO Jamie Dimon indicated that while Trump's plan may help stabilize the business cycle, it does little to fix America's fiscal path.
"I think the deficit will be large and probably growing," Dimon told Reuters. "Governments can spend money and still fail to drive growth. Responsibility matters."
Dimon echoed concerns shared by both credit analysts and institutional investors who say the long-term trajectory of U.S. debt could undermine confidence in Treasuries if spending continues unchecked.
The bill could increase the national debt—already at a record $36.2 trillion—by anywhere from $2.3 trillion to $5.7 trillion by 2034, depending on whether key tax breaks are extended, according to estimates from the Congressional Budget Office and the Committee for a Responsible Federal Budget.
"Stock investors may now be getting spooked that the bond market might be on the verge of a debt crisis," said veteran investor Ed Yardeni, pointing to the recent Moody's downgrade of U.S. sovereign credit and rising global bond yields.
Yardeni noted that the S&amp;P 500's 1.61% decline on Wednesday was already a reaction to the poorly received 20-year bond auction, and Thursday's vote could accelerate concerns. 
"Trump's ‘Big Beautiful Bill' could push deficits and debt into uncharted territory," he said.
<h3 class="wp-block-heading">Is A Debt Crisis Inevitable?</h3>
Yardeni raised the possibility that bond vigilantes—investors demanding higher yields to compensate for rising fiscal risk—could push the 10-year Treasury yield above 5% in coming weeks. 
Still, he said a full-blown debt crisis might not be catastrophic if it forces Washington toward fiscal discipline.
"In that case, a debt crisis would actually be a buying opportunity for stocks. Fasten your seat belts," Yardeni said.
According to Yardeni, the Federal Reserve could reserve a new Quantitative Easing (QE) to alleviate the Treasury&#8217;s financing pressures.
Another option could be shifting Treasury issuance toward short-term bills, as seen under Janet Yellen's 2023 playbook, which may temporarily ease pressure on long-term yields without requiring Fed intervention. 
Yet, the Treasury&#8217;s so-called Yield Curve Control makes U.S. debt far more sensitive to interest rate swings, increasing rollover risk as more debt matures faster.
With federal debt already at $36.2 trillion, even modest rate hikes could sharply raise borrowing costs, amplifying concerns about long-term fiscal sustainability.
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45544593/hedge-funds-are-building-a-towering-wall-of-bets-against-stocks">Hedge Funds Are Building A Towering Wall Of Bets Against Stocks</a>
Photo: Shutterstock
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45544593/hedge-funds-are-building-a-towering-wall-of-bets-against-stocks"><span class="author" style="box-sizing: border-box; border: 0px solid rgb(229, 231, 235); --tw-scale-x: 1; --tw-scale-y: 1; --tw-pan-x: ; --tw-pan-y: ; --tw-pinch-zoom: ; --tw-scroll-snap-strictness: proximity; --tw-gradient-from-position: ; --tw-gradient-via-position: ; --tw-gradient-to-position: ; --tw-ordinal: ; --tw-slashed-zero: ; --tw-numeric-figure: ; --tw-numeric-spacing: ; --tw-numeric-fraction: ; --tw-ring-inset: ; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgba(59,130,246,.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; --tw-blur: ; --tw-brightness: ; --tw-contrast: ; --tw-grayscale: ; --tw-hue-rotate: ; --tw-invert: ; --tw-saturate: ; --tw-sepia: ; --tw-drop-shadow: ; --tw-backdrop-blur: ; --tw-backdrop-brightness: ; --tw-backdrop-contrast: ; --tw-backdrop-grayscale: ; --tw-backdrop-hue-rotate: ; --tw-backdrop-invert: ; --tw-backdrop-opacity: ; --tw-backdrop-saturate: ; --tw-backdrop-sepia: ; --tw-contain-size: ; --tw-contain-layout: ; --tw-contain-paint: ; --tw-contain-style: ;"></a>

Analyst Color

Government

Bonds

Treasuries

Analyst Ratings

Trump's Big Tax Bill Clears The House: 30-Year Yields Jump To 5.15% As Bond Market Freaks

Institutional investors are quietly ramping up bearish bets, signaling a level of caution that market watchers say hasn't been seen in years.
What Happened: On Wednesday, popular investment newsletter The Kobeissi Letter posted on X, showing the substantial rise in the short interest of a median S&amp;P 500 stock, which is now at 2.3%, the highest in 7 years.
The post notes that the short interest as a percentage of shares outstanding has risen 35% year-to-date, which it says is comparable with the move seen at the beginning of the 2008 financial crisis. 
See Also: <a href="https://www.benzinga.com/markets/equities/25/05/45559242/short-seller-andrew-lefts-citron-doubles-down-on-duolingo-short-says-googles-ai-tool-changes-the-business">Short Seller Andrew Left&#8217;s Citron Doubles Down On Duolingo Short, Says Google&#8217;s AI Tool Changes The Business</a>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">BREAKING: Short interest on the median S&amp;P 500 stock has surged to ~2.3%, the highest in 7 years. Short interest as a % of shares outstanding has risen 35% year-to-date. This is a comparable move to the one seen at the beginning of the 2008 Financial Crisis, but starting from a… <a href="https://t.co/eLpi3vTkOq">pic.twitter.com/eLpi3vTkOq</a>
&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1925302833928122689?ref_src=twsrc%5Etfw">May 21, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
While the recent surge begins from a much lower base, the strength of the trend mirrors the defensive positioning seen just before the last major market collapse.
This also marks the first time short interest has breached its long-term historical average since the retail-fueled short squeeze frenzy in 2021, according to Goldman Sachs.
According to the post, hedge fund short interest on Nasdaq-listed stocks now accounts for 41% of total open interest, which is once again the highest level since February 2021. 
The post concludes by saying that &#8220;institutional investors are betting on a stock market decline.&#8221;
Why It Matters: On Wednesday, investor Jeremy Grantham warned that the stock market could plunge <a href="https://benzinga.com/markets/equities/25/05/45532892/legendary-investor-jeremy-grantham-warns-of-50-stock-market-crash">as much as 50%</a>, pointing to distortions fueled by pandemic-era liquidity and the AI-boom in a handful of &#8220;Mag 7&#8221; stocks as having skewed market dynamics.
&#8220;The market could easily go down by 50% and be well within its historical boundary. That would not be a colossal low,&#8221; Grantham said.
JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO Jamie Dimon warned early this week that <a href="https://www.benzinga.com/markets/equities/25/05/45535142/jamie-dimon-who-flagged-trouble-before-2008-lehman-brothers-collapse-now-warns-sp-earnings-could-fall-to-0rougher-time-for-markets-says-dan-niles">S&amp;P 500 earnings growth</a> could drop from 12% to 0%.
He also said that current asset prices were &#8220;kind of high,&#8221; while credit spreads remain &#8220;kind of low.&#8221;
Read More: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/25/05/45559059/trumps-big-beautiful-bill-could-be-3-1-trillion-jackpot-for-affluent-americans-like-elon-musk-and-jeff-bezos-report">Trump&#8217;s &#8216;Big Beautiful Bill&#8217; Could Be $3.1 Trillion Jackpot For Affluent Americans Like Elon Musk And Jeff Bezos: Report</a></li>
</ul>
Image Via Shutterstock

Short Interest Surges Across S&P 500: Institutional Investors Bet Against Market At Scale Not Seen Since 2008

David Sacks, the White House-appointed ‘Crypto Czar," said Wednesday he tried convincing JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO Jamie Dimon of Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) value.
What happened: During an <a href="https://www.foxbusiness.com/video/6373131853112">interview </a>with Fox Business, Sacks was asked about Dimon's persistent skepticism about the world's leading cryptocurrency.
"I've talked to him about this before," Sacks said. "What I've explained to him is that cryptocurrency is a new type of asset. It's a fundamental technology breakthrough."
Sacks said that the idea of a digital currency being scarce was unprecedented, referring to Bitcoin's 21 million hard cap.
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/25/05/45511186/coinbase-says-justice-department-has-launched-probe-into-its-recent-cyberattack">Coinbase Says DOJ Probing Latest Attack On Its Platform, Clarifies Its Not The &#8216;Subject&#8217; Of The Investigation</a>
Why It Matters: Sacks&#8217; remarks come only days after Dimon said that <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45501880/jamie-dimon-opens-jpmorgan-to-bitcoin-access-despite-longstanding-criticism">JPMorgan will enable clients to buy Bitcoin</a> but will not provide custody services.&nbsp;
Dimon, a longtime critic of Bitcoin, believes that the leading asset lacks intrinsic value and is <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42940832/jamie-dimon-says-hes-not-against-blockchains-but-trades-guns-on-bitcoin-again-it-has-no-intrinsic-value-i-just-dont-feel-great-about">primarily utilized</a> by criminals.
He has even suspected <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41422079/jpmorgan-boss-jamie-dimon-doubts-bitcoins-21m-supply-cap-despite-5-lines-in-source-code-im">Bitcoin's scarcity narrative</a>, asking how the 21 million supply cap was determined.
The bank reported holding shares of spot Bitcoin exchange-traded funds, including iShares Bitcoin Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) and Fidelity Wise Origin Bitcoin Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FBTC#BATS">FBTC</a>), as per the latest 13F filing.
Price Action:&nbsp; At the time of writing, BTC was exchanging hands at $111,437.36, up 3.56% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Shares of JPMorgan were up 0.03% in after-hours trading after closing 1.75% lower at $261.04 during Wednesday's regular trading session.
JPM ranked high on the momentum and growth metrics as of this writing. To check out how other banking stocks stack up, visit <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge Stock Rankings</a> for more details.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="517" height="187" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/22013535/Screenshot-2025-05-22-110520.png" alt="" class="wp-image-923778" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/22013535/Screenshot-2025-05-22-110520.png 517w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/22013535/Screenshot-2025-05-22-110520-300x109.png 300w" sizes="(max-width: 517px) 100vw, 517px" /></a></figure>
Photo Courtesy: lev radin on Shutterstock.com
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45512252/want-a-tesla-cybertruck-geminis-new-bitcoin-credit-card-could-be-your-ticket">Want A Tesla Cybertruck? Gemini&#8217;s New Bitcoin Credit Card Could Be Your Ticket</a></li>
</ul>

$BTC

Fidelity Wise Origin Bitcoin Fund Fidelity Wise Origin Bitcoin Fund

FBTC

IBIT

Jamie Dimon Is No Fan Of Bitcoin, But Trump's Crypto Czar Made An Attempt To Change the JPMorgan CEO's Mind Using This Narrative

JP Morgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), on Wednesday, introduced the JPMorgan Chase Center for Geopolitics (CfG), a client advisory service designed to assist businesses in thriving in today&#8217;s complex global landscape.
The company said in the press release that the CfG will achieve this by leveraging the firm&#8217;s unparalleled network, expertise, and resources.
The CfG will collaborate across the firm, utilizing a diverse team of experts to advise clients on how to anticipate and react to major geopolitical shifts.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/price-target/25/05/45527790/goldman-sachs-bets-on-jpmorgan-praises-market-share-gains-efficiency" rel="noreferrer noopener">Goldman Sachs Bets On JPMorgan, Praises Market Share Gains, Efficiency</a>
These shifts include the growing influence of artificial intelligence, the restructuring of global trade and supply chains, the evolving U.S.-China relationship, and changing dynamics in Europe and the Middle East.
Beyond releasing regular reports with timely analysis, the CfG will also host events and client engagements, such as in-person meetings and webinars.
The initial set of reports offers business leaders insights into the potential conclusion of the Russia-Ukraine conflict, the shifting geopolitical landscape in the Middle East, and challenges confronting the U.S. defense industrial base amidst a period of global rearmament.
Derek Chollet, a prominent foreign policy authority, will lead the center, which will also benefit from additional insights provided by geopolitical and business advisors from within and outside the company.
Price Action: JPM shares are down 1.59% at $261.50 at the last check Wednesday.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/25/05/45535142/jamie-dimon-who-flagged-trouble-before-2008-lehman-brothers-collapse-now-warns-sp-earnings-could-fall-to-0rougher-time-for-markets-says-dan-niles" target="_blank" rel="noreferrer noopener">Jamie Dimon, Who Flagged Trouble Before 2008 Lehman Brothers Collapse, Now Warns S&amp;P Earnings Could Fall To 0%: &#8216;Rougher Time For Markets,&#8217; Says Dan Niles</a></li>
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Photo via Shutterstock

Equities

Large Cap

From AI To Geopolitics - JPMorgan's Advisory Unit To Tackle New Era Of Risk Management

U.S. equities trading was mixed on Wednesday, with major indices showing limited movement by midday as investors remained cautious amid renewed concerns over fiscal policy, which pressured Treasury <a href="https://www.benzinga.com/government/regulations/25/05/45540541/5-treasury-yields-are-back-and-so-are-painful-mortgage-rates">bonds and the dollar.</a>
The S&amp;P 500 hovered near 5,930, little changed on the day, while the Dow Jones Industrial Average slipped 0.7% amid weakness in blue-chip stocks. In contrast, the Nasdaq 100 advanced 0.5%, led by a 4.6% rally in Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), which extended gains following its annual I/O developer conference.
Google unveiled a series of AI initiatives, highlighting that its Gemini assistant now boasts over 400 million monthly active users and delivers AI Overviews to more than 1.5 billion people. The company also touted Gemini 2.5 Pro's <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45548615/alphabet-well-positioned-for-google-search-dominance-analyst-says-can-navigate-the-shift-to-ai-search">performance leadership in industry benchmark</a>s.
Bond markets faced renewed selling pressure, with the 30-year Treasury yield surging to 5.02% — the highest in nearly two months — as traders digested the potential fiscal implications of President Donald Trump&#8216;s proposed "One Big Beautiful Bill," which economists say could further worsen the U.S. deficit outlook.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) stole the spotlight, surging past its previous record to hit an intraday high of $109,500, buoyed by news that JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) will allow clients to buy Bitcoin, though without offering custody services.
In commodities, oil prices eased 0.6% to $61.50 per barrel after an overnight spike triggered by unconfirmed reports of an Israeli strike on Iranian nuclear facilities. Gold rose 0.5% to $3,310 per ounce, marking its highest level since May 11.
<h1 class="wp-block-heading">Wednesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Major Indices </td>
<td>Price</td>
<td>1-day % chg.</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>21,474.58</td>
<td>0.5%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,936.07</td>
<td>-0.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,379.01</td>
<td>-0.7%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,084.27</td>
<td>-1.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated by 12:40 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul class="wp-block-list">
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) inched 0.2% down to $591.96.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) fell 0.7% to $423.84.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;rose 0.4% to $522.58.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) sunk 1% to $207.08.</li>
<li>The&nbsp;Communication Services&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, up 0.6%; the&nbsp;Health Care&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, down 1.2%.</li>
</ul>
<h1 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h1>
<ul class="wp-block-list">
<li>Keysight Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEYS#NYSE">KEYS</a>) rose 3.3% in reaction to earnings. </li>
<li>Other stocks reacting to earnings included TJX Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>), down 2.33; Lowe&#8217;s Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>), down 1.23%; Medtronic plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>), down 0.93%; Target Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>), down 4.12%; VF Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VFC#NYSE">VFC</a>), down 12.04%, FLEX LNG Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLNG#NYSE">FLNG</a>), down 7.27%.</li>
<li>Stocks slated to report earnings after the close include Urban Outfitters, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/URBN#NASDAQ">URBN</a>), Zoom Video Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>), Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) and Domo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOMO#NASDAQ">DOMO</a>).</li>
</ul>
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Sector ETFs

Broad U.S. Equity ETFs

Econ #s

Federal Reserve

Tech

ETFs

DOMO

FLNG

GOOG

GOOGL

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URBN

Select Sector SPDR-Consumer Discretionary

Wall Street Stalls As Yields Rise, Bitcoin Breaks Records Above $109,000: What's Driving Markets Wednesday?

After a week of choppy moves, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is <a href="https://www.benzinga.com/money/how-to-buy-bitcoin-btc-best-bonuses-august-2024">holding steady above $106,000</a>. The price follows ETF inflows and regulatory tailwinds from the Senate, fueling the latest push.
Around $1.1 billion in short positions are at risk of liquidation if BTC breaks $108,000 — a move that could add momentum in the coming days.
Tuesday marked the fifth straight day of net inflows into U.S. spot Bitcoin ETFs, totaling $41.7 million. It reflects consistent appetite from institutional buyers, especially in a market that&#8217;s seen retail participation stay muted. ETF activity is becoming a key driver — not just of sentiment but of actual price action.
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The Senate just passed the GENIUS Act, a bipartisan stablecoin bill that&#8217;s now headed to the House. Texas also cleared SB21, giving the state authority to hold Bitcoin on its balance sheet. The new SEC chair is pushing for clearer token guidelines, causing more movement on the policy front than we&#8217;ve seen in months.
Total BTC futures OI jumped 10.65% week-over-week to $74.35 billion, with Binance (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>) accounting for the largest share at $12.28 billion. Open interest is climbing, traders are clearly leaning in, and the growing pile of liquidations of around $107.5K is a level most are watching closely.
According to CoinDesk, the annualized spread between spot ETF prices and CME futures is nearing 9%. The classic long-ETF, short-futures setup tends to show up when there&#8217;s strong directional conviction among funds.
Bitcoin is moving within an ascending channel, posting higher highs and consolidating gains. Options data shows heavy call interest at $110K–$120K, which lines up with the upside traders are positioning for if this current move sticks.
Last weekend&#8217;s dip from $106K to $103K was a reminder that sell pressure shows up fast when BTC stalls near resistance. Key support sits around $102.2K, where roughly $52 million in long liquidations would get triggered on a breakdown.
JP Morgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) expects BTC to outperform gold next year, citing rising state-level adoption. Standard Chartered is calling for a potential move to $120K soon—and $200,000 by year-end if institutional demand keeps up.
Retail interest, though, is still absent. According to Google Trends, the U.S. search volume for &#8220;Bitcoin&#8221; is flat. This isn&#8217;t a hype cycle—it&#8217;s a quiet accumulation phase driven by funds, firms, and policy shifts. For now, all eyes are on $108K.
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<li>Trade, earn, and grow your crypto portfolio with Crypto.com — <a href="https://www.benzinga.com/go/crypto-com-signup-bonus">plus receive up to $500 worth of rewards in the most popular tokens if you're a new customer</a>.</li>
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Image: Shutterstock

$BNB

Bitcoin Holds Above $106K As ETF Inflows Continue, Institutions Stay Bullish

JPMorganChase Today Launched The JPMorganChase Center For Geopolitics, A Client Advisory Service That Will Harness The Company's Unparalleled Network, Expertise, And Resources To Help Clients Successfully Navigate The Increasingly Complex Global Business Landscape

JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO Jamie Dimon, who correctly flagged trouble before the 2008 Lehman Brothers collapse, is now cautioning that Wall Street&#8217;s expectations for S&amp;P 500, tracked by SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) earnings growth could plummet from 12% to 0% as tariff impacts ripple through the economy.
What Happened: &#8220;I think earnings estimates will come down, which means PE [Price-to-Earnings&nbsp;ratio] will come down,&#8221; Dimon said at the bank&#8217;s annual investor day, suggesting equity valuations face downward pressure. He described current asset prices as &#8220;kind of high&#8221; while credit spreads remain &#8220;kind of low.&#8221;
Hedge fund manager Dan Niles highlighted Dimon&#8217;s track record on X, noting, &#8220;Dimon warned of an economic &#8216;hurricane&#8217; in June of 2022 before the banking crisis in March of 2023.&#8221; Niles emphasized JPMorgan&#8217;s unique perspective, writing, &#8220;With $4.4 trillion in assets, JPM has more granular data on the health of the U.S. economy than almost anyone.&#8221;
&#8220;I continue to believe that the holidays will be a much rougher time for markets,&#8221; Niles wrote. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Yesterday, <a href="https://twitter.com/search?q=%24JPM&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$JPM</a> CEO Jamie Dimon said he believes Wall Street estimates for S&amp;P earnings growth will go to 0% from 12% to start the year as the impact of tariffs work through the economy "which means PE will come down." He also said asset prices are "kind of high" and credit…
&mdash; Dan Niles (@DanielTNiles) <a href="https://twitter.com/DanielTNiles/status/1924902062283784681?ref_src=twsrc%5Etfw">May 20, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Next: <a href="https://www.benzinga.com/25/05/45534527/china-warns-of-legal-retaliation-against-us-chip-sanctions-threatens-lawsuits-for-aiding-discriminatory-tech-crackdown">China Warns Of Legal Retaliation Against US Chip Sanctions, Threatens Lawsuits For Aiding &#8216;Discriminatory&#8217; Tech Crackdown</a>
Why It Matters: Dimon&#8217;s concerns extend beyond earnings, as he warned of &#8220;huge deficits&#8221; and &#8220;almost complacent central banks.&#8221; He believes markets display &#8220;an extraordinary amount of complacency&#8221; despite <a href="https://www.benzinga.com/news/management/25/05/45508514/jpmorgan-ceo-jamie-dimon-warns-huge-deficits-complacent-central-banks-could-lead-to-stagflation">mounting risks from tariffs and geopolitical tensions</a>, putting the odds of stagflation at &#8220;roughly double&#8221; what markets anticipate.
Despite these warnings, Goldman Sachs recently raised its S&amp;P 500 12-month target to 6,500 while reducing recession odds to 35%, citing the Trump administration&#8217;s decision to <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45379707/sp-500-to-6500-goldman-sachs-trims-recession-odds-as-trump-backs-off-on-tariffs">pause retaliatory tariffs for 90 days</a>.
JPMorgan&#8217;s chief global strategist, David Kelly, maintains the U.S. economy will likely avoid recession but expects slower growth due to tariffs and other economic factors <a href="https://www.benzinga.com/markets/25/05/45485111/jpmorgan-chase-us-economy-likely-to-skirt-recession-forecasts-sluggish-growth">potentially squeezing consumer spending</a>.
Since taking the helm in 2005, Dimon has led JPMorgan to a total return of 1,012%, including dividends, surpassing the S&amp;P 500's 596% gain and even outpacing the Nasdaq's 971% rise.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: lev radin / Shutterstock.com

Jamie Dimon, Who Flagged Trouble Before 2008 Lehman Brothers Collapse, Now Warns S&P Earnings Could Fall To 0%: 'Rougher Time For Markets,' Says Dan Niles

Goldman Sachs analyst Richard Ramsden raised the price forecast on JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) from $276 to $303, while reiterating a Buy rating following <a href="https://www.benzinga.com/quote/JPM/analyst-ratings" target="_blank" rel="noreferrer noopener">its investor day on Monday</a>.
CEO&nbsp;Jamie Dimon warned that markets are displaying an &#8220;extraordinary amount of complacency&#8221; in the face of mounting risks from tariffs, record <a target="_blank" href="https://www.benzinga.com/news/management/25/05/45508514/jpmorgan-ceo-jamie-dimon-warns-huge-deficits-complacent-central-banks-could-lead-to-stagflation" rel="noreferrer noopener">U.S. deficits&nbsp;and geopolitical tensions</a>.
Also, JPMorgan reaffirmed its 2025 expense and net interest income guidance, projecting $90 billion in core lending revenue with an additional $4.5 billion possible from trading,<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener"> depending on market conditions</a>.
The bank expects investment banking fees to drop by a &#8220;mid-teens&#8221; percentage in the second quarter compared to last year, reflecting a slowdown in dealmaking as corporate clients adopt a cautious, wait-and-see approach.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45501880/jamie-dimon-opens-jpmorgan-to-bitcoin-access-despite-longstanding-criticism" target="_blank" rel="noreferrer noopener">Jamie Dimon Opens JPMorgan To Bitcoin Access Despite Longstanding Criticism</a>
The analyst writes that he believes the bank has outlined a compelling strategy for long-term growth, based on market share gain across all its essential business segments and operational efficiency.
A particularly notable element is the company&#8217;s ambitious vision for CCB, indicating significant room to strengthen its position in card, consumer, and business banking, despite its already considerable market presence, adds the analyst.
Additionally, Ramsden says that the bank consistently reiterates its substantial excess capital, which it intends to allocate toward both organic expansion and potential acquisitions, boosting the balance sheet and providing higher returns to shareholders over time.
Consequently, the analyst lowered its EPS estimates in 2026E/27E by 1%.
JPM Price Action: JPMorgan Chase shares are up 0.098% at $265.13 at publication on Tuesday.
Read Next:
 • <a href="https://www.benzinga.com/25/05/45522993/jpmorgan-stock-seen-as-top-buy-after-investor-day-says-analyst" target="_blank" rel="noreferrer noopener">JPMorgan Stock Seen As Top Buy After Investor Day, Says Analyst</a>

Photo: Shutterstock

Price Target

Reiteration

Goldman Sachs Bets On JPMorgan, Praises Market Share Gains, Efficiency

JP Morgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>)'s investor day struck the right tone for Wall Street, with Bank of America calling the stock a top buy and lifting its price target to $300 as the bank doubled down on return efficiency, capital <a href="https://www.benzinga.com/25/05/45453976/jp-morgans-investor-day-looms-why-this-could-set-the-stocks-next-move">deployment, and CEO stability.</a>
"Investor day provided plenty for the Street to like," said the bank&#8217;s analyst Ebrahim Poonawala in a note Tuesday.
The expert lifted the stock&#8217;s price objective from $281 to $300, implying a 13% upside from current levels. He now sees 2025 and 2026 earnings per share at $18.30 and $20.70, up from $18.10 and $20 previously.
<h3 class="wp-block-heading">CEO Succession Risk Now On The Backburner</h3>
The single biggest overhang for JPMorgan's stock—CEO succession—may have just eased. CEO Jamie Dimon said, "If I&#8217;m here for four more years and maybe two or three as executive chair&#8230; that's a long time," signaling no imminent departure.
Poonawala said this clarity should help remove "the single biggest idiosyncratic risk factor debated by investors," based on client conversations.
<h3 class="wp-block-heading">Capital Deployment Through M&amp;A Gaining Traction</h3>
While JPMorgan has traditionally favored share buybacks over large-scale M&amp;A, the tone shifted subtly during the investor day. Management appeared more open to strategic acquisitions, particularly in wealth management, private banking, payments, and international markets.
With an estimated $57 billion in excess capital, JPMorgan has the firepower to pursue growth opportunities—though transformational deals remain unlikely. 
The analyst described this flexibility as a key part of the bank's attractive risk/reward profile, particularly amid a more balanced regulatory environment.
<h3 class="wp-block-heading">Efficiency Push May Reset Cost Trajectory</h3>
Poonawala highlighted management's continued push for cost efficiency as another reason for optimism. With tech investment near peak levels and headcount growth under tighter control. 
&#8220;This could reset core expense growth to low single digits from mid-to-high in recent years, further boost&nbsp;the ROE&nbsp;profile,&#8221; Poonawala said. 
Shares of JPMorgan Chase traded 0.4% higher to $266 on Tuesday. 
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Photo: Rokas Tenys/Shutterstock

JPMorgan Stock Seen As Top Buy After Investor Day, Says Analyst

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has hit $105,125, <a href="https://www.benzinga.com/money/how-to-buy-bitcoin-btc-best-bonuses-august-2024">a 2.8% jump in the past 24 hours</a>. The rise came as cryptocurrencies are gaining acceptance in traditional finance and an influx of institutional money could push Bitcoin's price further.
JP Morgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) made the decision to offer Bitcoin access to its wealth management clients as its CEO, Jamie Dimon, has recognized a growing appetite for digital assets.&nbsp;
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Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) to discuss with regulators ways to allow crypto safely. The bank would ask financial advisors to bring ideas on spotting bitcoin exchange-traded funds to make them available for qualified customers.&nbsp;
JP Morgan has predicted that Bitcoin is ready to outperform gold in 2025. According to The Defiant, Bitcoin will witness upside in the 2nd half of the year.&nbsp;
Bitcoin is surging toward a $106,000 mark. The rally is fueled by renewed investor confidence, and increased institutional activity, and recent regulatory news. Bitcoin is trying to break through some resistance. The market is looking positive, which may give a solid crypto bull market.
DigiAsia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FAAS#NASDAQ">FAAS</a>), a fintech company, announced they're planning to raise $100 million to invest in Bitcoin. DigiAsia confirmed its board of directors have passed the decision to build a Bitcoin treasury reserve.&nbsp;
DigiAsia has also initiated talks on BTC yield strategies and treasury reserve management with BTC's regulated partners. The company is analysing capital markets solutions, which include convertible notes, equity-linked offerings, and structured crypto finance instruments.
BlackRock Inc's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) Bitcoin ETF is holding over $6.5 billion in assets and hitting $3 billion in daily trading volume.
The institutional adoption is giving regular investors a way to get into Bitcoin in a regulated manner. Almost 50% of the inflows are shared to iShares Bitcoin Trust. The net inflow has reached up to $45.9 billion. The ETF's popularity highlights the demand for compliant Bitcoin investment options.&nbsp;
Bitcoin has also seen some pullbacks due to mixed signals in the economy and some investor caution. There are uncertainties about interest rates and liquidity of assets. Bitcoin has held its ground better than smaller altcoins. Long-term holders see these short-term dips as a chance to buy more.&nbsp;
Jack Dorsey, founder of X, formerly Twitter, proposed rebranding Bitcoin. It moves away from the name of its mysterious creator, "Satoshi." Bitcoin has up to 100,000,000 sats or satoshis at present.
The tweet gained over 1 million views including promoting posts for BIP 177.&nbsp; John Carvalho, a software developer, has sent a Bitcoin Improvement Proposal, titled "Redefine Bitcoin&#8217;s Base Unit." The proposal shifts the display of Bitcoin's quantities and removes the leading zeros and decimal points.
The recent surge in Bitcoin&#8217;s price seems to be a mix of big players getting involved, some whales stashing their coins, and a few good vibes from regulators. A bright picture is being painted for Bitcoin's future in the market.
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