I guess it's just how large firm behave, not gonna invest into something until they really sure and many people have already jumped in and I guess that happens to their idea of diversification too and risk calculation.
However, there's always an outlier why will try to make fortune when thing is still young and make many profit out of it, JP Morgan could say whatever he wants but I'm sure in the future there gonna be some large firms investing to crypto.
I believe there is going to be something much better in the future but they are sort of right, following usually means one thing is done and another thing happens right afterwards and I believe that didn't happen, JP Morgan didn't mean it like "nobody will invest into crypto" that is not really wise to expect, that wouldn't be possible, at the end of the day we are going to end up with a situation like there will be some sort of investments over long period of time but I think people didn't followed Tesla all that much, at least not the big companies.
If there was another news like Apple bought 1 billion dollars of bitcoin in a week or 10 days, and after that Google invests another 1 billion dollars to bitcoin and after a while facebook buys half a billion dollars into bitcoin and so forth, if that happened all in a month or two we could actually say they were wrong but now I don't think we can say they are wrong.