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JPMorgan: Limited demand for new counterfeit products

JPMorgan analysts wrote in an investor note on January 13 that there was limited interest in new cryptocurrency ETFs outside of bitcoin and ethereum - despite expectations that Mr. Trump would remove regulatory hurdles. "We do not believe there is sufficient investor interest or demand for these future counterfeit products ETP launches to have a material impact on the cryptocurrency ecosystem." The report predicts that the Solana ETF may attract inflows of $3 billion to $6 billion, and the XRP ETF may attract up to $8 billion. Demand for Solana and XRP products in the market is still low. Grayscale's Solana trust size is only $99 million, and the XRP trust size is only $12 million. JPMorgan Chase attributed this phenomenon to the short-term attention nature of cryptocurrency investors, saying that "with the exception of a few major tokens, the cyclical nature of the crypto market is mainly driven by changing investor sentiment and short-term popularity of new coins."