JP Morgan and Wall Street as a whole is mostly interested in Bitcoin as a short term day trade type of tool. In the long run they want crypto to fail because it's a threat to them. The smart play is to completely ignore Wall Street as they aren't looking to help us.
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Exactly. It's also a perfect example that they will invest in things that go against their "philosophies". (I doubt they have many morals outside of the realm of increasing the wealth for themselves)
Most companies that big only care about profit due to diffusion of responsibilities.