Briefs · Morning brief
J.P. Morgan Asset Management put a long-term return range on bitcoin for the first time while keeping it out of its main risk models, the SEC's Regulation Crypto Assets comment period closes today, and bitcoin was at $81,471.27 at 6:05 a.m. ET, 0.40% below Monday's 4:00 p.m. ET close, per CoinGecko.
J.P. Morgan Asset Management has put a long-term return range on bitcoin for the first time in its annual capital market assumptions, its long-run estimates covering the next 10 to 15 years. It still keeps bitcoin out of its main covariance matrices, saying unstable correlations "impair a strategic allocation." [2]
Crypto drifted lower overnight: bitcoin, ether and XRP sit just below Monday's 4:00 p.m. ET close, and solana is flat. [1]
All four majors are within half a percent of Monday's close. CoinGecko USD prices, Monday 4:00 p.m. ET to Tuesday 6:05 a.m. ET (5-minute points). [1]
| Asset | Mon 4:00 p.m. ET | Tue 6:05 a.m. ET | Change |
|---|---|---|---|
| BTC | $81,798.63 | $81,471.27 | −0.40% |
| ETH | $2,392.56 | $2,384.07 | −0.35% |
| SOL | $103.90 | $103.98 | +0.07% |
| XRP | $1.2996 | $1.2946 | −0.38% |
Bitcoin's overnight low was $81,185.61 at 9:15 p.m. ET Monday. [1]
01 · JPMorgan's asset manager gives bitcoin its first long-term return forecast. "For the first time, we put a range on bitcoin returns, though we do not yet include bitcoin in our main covariance matrices," J.P. Morgan Asset Management writes in its 2027 assumptions. It provides "a separate, smaller covariance matrix with BTC against a subset of assets." Le Coin's full story has the details. [2]
02 · Bitdeer mined 1,355 bitcoin in September. In a 6-K filed Monday, the miner said production "increased 200% Y/Y" and its AI cloud revenue backlog reached "~$2.9 billion" after offtake commitments covering more than 70% of its A201 data center in Malaysia. The figures are unaudited. [4]
03 · Arrington's XRP fund reports a 19.9% stake in Evernorth. A Schedule 13G shows Arrington XRP Capital Fund holding 4,704,137 Evernorth Class A shares, 19.9% of the class. The filing says conversion of a further 29,033,708 non-voting Class C shares is blocked by a 19.9% ownership cap in Evernorth's articles. [5]
04 · BlackRock's protected bitcoin ETF filing is still missing its key terms. The iShares Bitcoin Managed Protection ETF's 485APOS leaves the management fee, listing exchange, caps and launch date blank; none is yet disclosed. [7]
In Le Coin's view, JPMorgan's choice to forecast bitcoin while keeping it out of its main models is the more telling signal for allocators than any single number: the firm is saying bitcoin can be measured but not yet blended into a standard portfolio. [2]
Two of today's items have dates attached: the SEC's comment deadline and Solana's upgrade.
| When (ET) | What |
|---|---|
| Tue Oct 20 | SEC Regulation Crypto Assets comments close [3] |
| Wed Oct 21, ~9:20 a.m. ET | Solana Alpenglow activates on mainnet, epoch 1064 [6] |
Holding the Corner.
Not financial advice.