JPMorgan says bitcoin could get more support than gold if ETF hedging eases

Published 17 Sep 2026, 17:50 UTC. Updated 18 Sep 2026, 13:32 UTC.

Bitcoin could get more support than gold if investors reduce their ETF hedges, according to JPMorgan analysts.

Directly affected

JPM Jpmorgan Chase
Named in this report.

Indirectly affected

IBIT iShares Bitcoin Trust
This price moves with the crypto market
COIN Coinbase
The crypto exchange moves with trading volumes
MSTR Strategy
This company's value is tied to its bitcoin holdings
MARA MARA Holdings
Bitcoin miners move with the bitcoin price
RIOT Riot Platforms
Bitcoin miners move with the bitcoin price
HOOD Robinhood
Retail trading apps move with crypto volumes
BITB BITWISE BITCOIN ETF TR
GA selected BITB as a RELATED security because its canonical security name directly matches this event's themes: bitcoin. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.
BITU PROSHARES ULTRA BITCOIN ETF
GA selected BITU as a RELATED security because its canonical security name directly matches this event's themes: bitcoin. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.
BITX 2X BITCOIN STRATEGY ETF
GA selected BITX as a RELATED security because its canonical security name directly matches this event's themes: bitcoin. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.
GBTC GRAYSCALE BITCOIN TRUST ETF
GA selected GBTC as a RELATED security because its canonical security name directly matches this event's themes: bitcoin. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.

Price reaction, T-5 to T+3

Ticker	T-5	T-3	T-1	T0	T+1	T+2	T+3
JPM	—	—	—	—	—	—	—
IBIT	—	—	—	—	—	—	—
COIN	—	—	—	—	—	—	—
MSTR	—	—	—	—	—	—	—
MARA	—	—	—	—	—	—	—
RIOT	—	—	—	—	—	—	—
HOOD	—	—	—	—	—	—	—
BITB	—	—	—	—	—	—	—
BITU	—	—	—	—	—	—	—
BITX	—	—	—	—	—	—	—
GBTC	—	—	—	—	—	—	—

Bitcoin could get more support than gold if investors reduce their ETF hedges, according to JPMorgan analysts.

Source: The Block

The price since 17 Sep 2026: Bitwise Bitcoin ETF (BITB) versus the S&P 500

Since the first closing price after “JPMorgan says bitcoin could get more support than gold if ETF hedging eases,” Bitwise Bitcoin ETF (BITB) is +0.61%. The S&P 500 fund (SPY) is +0.65% over the same days, a -0.04% difference versus the market.

BITB

SPY

Who gains and who loses around Bitwise Bitcoin ETF (BITB)

Companies mentioned with this story

BITB Bitwise Bitcoin ETF
Bitwise Bitcoin ETF (BITB) is linked, with no stored direction, medium confidence in the 17 Sep 2026 story “JPMorgan says bitcoin could get more support than gold if ETF hedging eases.” Reason on file: GA selected BITB as a RELATED security because its canonical security name directly matches this event's themes: bitcoin. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
BITU Proshares Ultra Bitcoin Etf
Proshares Ultra Bitcoin Etf (BITU) is linked, with no stored direction, medium confidence in the 17 Sep 2026 story “JPMorgan says bitcoin could get more support than gold if ETF hedging eases.” Reason on file: GA selected BITU as a RELATED security because its canonical security name directly matches this event's themes: bitcoin. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
BITX 2X Bitcoin Strategy Etf
For “JPMorgan says bitcoin could get more support than gold if ETF hedging eases,” 2X Bitcoin Strategy Etf (BITX) is linked, with no stored direction, medium confidence. Reason on file: GA selected BITX as a RELATED security because its canonical security name directly matches this event's themes: bitcoin. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
GBTC Grayscale Bitcoin Trust ETF
In “JPMorgan says bitcoin could get more support than gold if ETF hedging eases,” Grayscale Bitcoin Trust ETF (GBTC) is linked, with no stored direction, medium confidence. Reason on file: GA selected GBTC as a RELATED security because its canonical security name directly matches this event's themes: bitcoin. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
IBIT iShares Bitcoin Trust ETF
In “JPMorgan says bitcoin could get more support than gold if ETF hedging eases,” iShares Bitcoin Trust ETF (IBIT) is linked, with no stored direction, medium confidence. Reason on file: GA selected IBIT as a RELATED security because its canonical security name directly matches this event's themes: bitcoin. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
ARKB Ark 21Shares Bitcoin ETF
Ark 21Shares Bitcoin ETF (ARKB) is linked, with no stored direction, medium confidence in the 17 Sep 2026 story “JPMorgan says bitcoin could get more support than gold if ETF hedging eases.” Reason on file: GA selected ARKB as a RELATED security because its canonical security name directly matches this event's themes: bitcoin. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article

Bitwise Bitcoin ETF (BITB)

The 17 Sep 2026 story “JPMorgan says bitcoin could get more support than gold if ETF hedging eases” names Bitwise Bitcoin ETF (BITB) because of this story.

The link for Bitwise Bitcoin ETF (BITB) is this: GA selected BITB as a RELATED security because its canonical security name directly matches this event's themes: bitcoin. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article

Proshares Ultra Bitcoin Etf (BITU) is here too. Its reason reads: GA selected BITU as a RELATED security because its canonical security name directly matches this event's themes: bitcoin. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article

Price levels for Bitwise Bitcoin ETF (BITB)

BITB traded between 43.26 and 47.30 across 20 sessions. The latest close on file is 44.34. BITU traded between 13.70 and 16.49 across 20 sessions. The latest close on file is 14.38. BITX traded between 17.70 and 21.33 across 20 sessions. The latest close on file is 18.59.

A simple score for Bitwise Bitcoin ETF (BITB)

46 out of 100

“JPMorgan says bitcoin could get more support than gold if ETF hedging eases” scores 46 out of 100. The score uses 1 sources, and 6 linked companies.