The market this morning

JPMorgan puts bank dollars on public Ethereum as BlackRock files a third bitcoin fund

By Crypto Info News

Good morning. JPMorgan is rolling out JPM Coin on Ethereum for institutional clients, Decrypt reported. The token is backed by dollars held in the bank's accounts and, according to the report, settles in seconds on any day of the week. It places bank-issued dollars on a public blockchain.

On the same day, The Block reported that BlackRock, described as one of the world's largest investment managers, filed for another bitcoin fund offering downside protection and upside exposure tied to its IBIT product. The Block said it is the firm's third fund tied to the asset.

The market did not react dramatically. The snapshot shows bitcoin at $81,875.26, down about 0.18% over 24 hours, with ether at $2,405.92, roughly flat. BNB rose about 1.21% to $731.44. Glassnode said capital keeps moving into newer hands on-chain even as buyers stay on the sidelines.

Payments featured heavily. Cointelegraph reported that Visa and Mesh partnered to enable crypto spending across 175 million merchant locations, connecting wallets to Visa's network. Mastercard, meanwhile, unveiled fraud-fighting tools for stablecoin payments at Money20/20, Decrypt reported, with Cointelegraph describing a risk-screening service to help banks detect suspicious transactions before settlement. Revolut secured a Gibraltar crypto license to support expansion, Cointelegraph said, without disclosing specific countries or dates.

Corporate treasuries moved in opposite directions. Decrypt reported Strive bought $335 million in bitcoin after investors poured in $369 million, and plans a $630 million preferred-stock sale. Cointelegraph reported SkyAI sold all its Solana holdings and launched a $201 million buyback using its $223.8 million cash.

On policy, Cointelegraph noted the SEC's comment window on its proposed "Regulation Crypto Assets" was closing. CoinDesk reported Tether CEO Paolo Ardoino defending the firm against a senator's investigation into Iran-linked activity.

What to watch: validator approval of the XRP Ledger's lending amendment, which Decrypt said developers moved to repair before launch, and the nine companies, including Verizon, Broadcom and UnitedHealth, that Decrypt reported have objected to the planned OKX-ICE tokenized stock venue.