PANews reported on September 10th that according to CoinDesk, a report released by JPMorgan Chase on Wednesday stated that institutional adoption of cryptocurrencies is still in its early stages, but momentum is building. The report stated that Bullish's IPO in August and the passage of the GENIUS Act have intensified attention on the industry, and regulatory clarity has removed one of the biggest obstacles facing large investors. The report mentioned that signs of participation are emerging. The Chicago Mercantile Exchange (CME) reported that institutional investors' open interest in cryptocurrency derivatives has reached a record high, and institutions currently hold approximately a quarter of Bitcoin ETPs. An EY survey showed that 85% of companies have already allocated digital assets or plan to do so by 2025, citing regulation as a key driver.

The report also stated that Bullish has become a benchmark for institutional investors in the stock market; the exchange's stock price has risen 45% since its IPO, and its momentum will be even stronger if it obtains a BitLicense later this year. JPMorgan Chase has a "neutral" rating on Bullish stock with a $50 price target. The stock rose slightly to $54.50 on Wednesday.