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JPMorgan Asset Management projects Bitcoin (BTC) will outperform stocks and gold over the next decade, but cautions that its volatility makes it unsuitable for diversifying portfolios for now. On Monday, JPMorgan published its 2027 Long-Term Capital Market Assumptions report, projecting a 10% annualized return for Bitcoin, compared with 7.5% for large-cap US stocks and 5.5% for gold. The projections are part of JPMorgan’s annual outlook covering more than 200 assets to help investors plan their portfolios. “At the moment, we do not make a case for Bitcoin as a diversifier in portfolios due to its unstable market correlations,” the report said. “We see Bitcoin as a speculative asset and a hedge against monetary easing.”JPMorgan’s projected Bitcoin returns compared with traditional assets. Source: JPMorganJPMorgan projects double-digit Bitcoin gains or lossesJPMorgan’s bull case puts Bitcoin’s annualized return at 16.6%, while its bear case projects an annualized loss of 11.2%. The calculations considered BTC supply growth relative to money supply, its potential role alongside gold and network adoption.

SummaryU. S. spot bitcoin ETFs added $526.6 million on Monday, led entirely by BlackRock’s IBIT net inflow of $665.2 million. Fidelity's FBTC and Grayscale's GBTC saw outflows of $83.6 million and $54.9 million, respectively. Ether funds dropped $103.3 million, marking a fourth consecutive session of outflows. U. S. spot bitcoin exchange-traded funds attracted $526.6 million on Monday, the largest daily net inflow in nearly a month, driven entirely by BlackRock’s iShares Bitcoin Trust (IBIT). IBIT pulled in $665.2 million, its biggest daily inflow since Oct. 7 last year, according to SoSoValue data. Combined, the bitcoin funds last drew more on Sept. 22, when they added $714.7 million. Fidelity’s FBTC lost $83.6 million, while Grayscale’s GBTC shed $54.9 million in Monday’s trading session, while the remaining funds recorded no net flows, underscoring how concentrated buying was. The inflow more than erased last week’s $228.5 million of withdrawals, though the funds remain about $90.5 million in the red for October, according to CoinDesk calculations using SoSoValue’s figures.

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BlackRock, the world’s largest asset manager, is looking to expand its crypto fund lineup with a Bitcoin exchange-traded fund (ETF) that offers limited downside protection in exchange for capped gains. The world’s largest asset manager on Monday filed a preliminary prospectus with the US Securities and Exchange Commission for the iShares Bitcoin Managed Protection ETF (PBIT). The proposed ETF would use options linked to BlackRock’s iShares Bitcoin Trust ETF (IBIT) rather than holding Bitcoin (BTC) directly, according to the preliminary prospectus filed with the US Securities and Exchange Commission (SEC). IBIT is the world’s largest spot Bitcoin ETF by assets. It holds Bitcoin directly and gives investors exposure through brokerage accounts. The fund had $65.7 billion in net assets as of Monday, according to BlackRock. BlackRock also runs the iShares Ethereum Trust ETF (ETHA), a spot Ether fund with $8 billion in net assets. The asset manager has yet to launch US spot ETFs tracking other cryptocurrencies such as Solana or XRP. ETF Store president Nate Geraci questioned BlackRock’s continued absence from the market for spot ETFs tracking other cryptocurrencies.

BlackRock’s IBIT led the gains with $665.2 million in inflows, offsetting withdrawals from Fidelity and Grayscale, while other funds recorded no net flows. US spot Bitcoin exchange-traded funds (ETFs) recorded $526.7 million in net inflows on Monday, their largest daily intake in nearly a month, after posting net weekly withdrawals in each of the past two weeks. According to Farside Investors, Monday’s inflows were the strongest since Sept. 22, when the funds attracted $714.7 million. Monday’s record reversed Friday’s $82.4 million in net outflows. BlackRock’s iShares Bitcoin Trust (IBIT) led the inflows with $665.2 million, exceeding the net total across all funds. The gains were partly offset by $83.6 million in withdrawals from Fidelity’s Wise Origin Bitcoin Fund (FBTC) and $54.9 million from Grayscale Bitcoin Trust (GBTC). Other funds recorded no net flows, according to Farside. US Spot Bitcoin ETF Flows. Source: Farside InvestorsThe rebound followed two weeks of net outflows on a weekly basis. Last week, spot Bitcoin ETFs shed about $229 million after losing $681 million the week before. The funds also recorded $483.9 million in outflows on Oct.

Sophon has set a Nov. 25 deadline for users to withdraw their assets ahead of its planned mainnet shutdown, following a June announcement that it would abandon its Ethereum layer-2 blockchain and move operations to Base. Sophon said Monday it will begin shutting down key infrastructure and related websites on Nov. 25, and any assets left on the Sophon Chain risk becoming permanently inaccessible. The team has asked users to withdraw any Sophon (SOPH), Ether (ETH), USDC (USDC) and other assets, and claim any outstanding staking or Guardian rewards. Sophon launched as a zero-knowledge-powered layer-2 network focused on consumer applications, including gaming, entertainment and AI. In June, its developers said the costs of maintaining a standalone blockchain no longer justified its benefits and announced plans to focus on consumer finance and AI applications on Base. The shutdown follows a similar announcement from Abstract, the consumer-focused Ethereum layer-2 network developed by Pudgy Penguins’ parent company, Igloo. Abstract announced on Oct. 6 that it would close on Dec. 15, after Igloo lost tens of millions of dollars supporting the network.