Chase CEO Jamie Dimon thought the government should ban Bitcoin, so I decided to close my Chase account. It took four months to "warm up" my new bank account to the point I could finally close my Chase account. ("Warming up" is needed to be able to transfer large sums in/out of a new bank.)
While I waited, both the Bitcoin and Ethereum ETFs were approved, and I learned that JP Morgan has an equity stake on Consensys, which largely controls Ethereum. It's likely that JP Morgan pushed the Biden administration to pressure the SEC to approve the Ethereum ETF. (The SEC was preparing to sue Consensys for violating securities laws, so political pressure from the White House is very likely.) Trump also announced that he's accepting crypto campaign contributions, so this looks to be the first presidential campaign of the Bitcoin era.
It's still taboo to for the elites to openly support Bitcoin, but they were clearly jockeying to be in a position to benefit from the transition in the global reserve currency -- even while there were publicly asking the government to ban it.