US Megabank JPMorgan To Let All Retail Customers Invest In Bitcoin, Ethereum, And Bitcoin Cash Funds

US Megabank JPMorgan To Let All Retail Customers Invest In Bitcoin, Ethereum, And Bitcoin Cash Funds
фото показано с : zycrypto.com

2021-7-23 21:22

Major American investment bank JPMorgan Chase & Co will give its wealth management clients access to a selection of cryptocurrency funds, becoming the largest and unlikeliest United States banking giant to open crypto trading to all clients.

JPMorgan Expands Cryptocurrency Access

JPMorgan’s financial advisors have been approved to execute trades with the shares of Bitcoin, Bitcoin Cash, Ethereum, and Ethereum Classic funds of digital asset manager Grayscale Investments. Additionally, clients will also be able to access an over-the-counter Bitcoin fund run by Osprey Funds, OBTC. The policy change became effective on July 19, per a memo seen by Business Insider.

JPMorgan is notably the first major U.S. bank to offer indirect crypto investing to all clients seeking investment advice beyond just the rich ones. According to sources familiar with the matter, the bank’s investors using its commission-free Chase trading app, clients managed by financial advisors, and affluent clients will all be allowed seamless access to the crypto funds.

However, directly recommending crypto products to clients will not be allowed. This means that the bank’s financial advisors will only execute unsolicited trade requests from clients.

During an interview with Bloomberg a few days ago, JPMorgan’s Asset & Wealth Management CEO Mary Callahan Erdoes revealed that a majority of the bank’s clients see bitcoin as an asset class they want to invest in.

Earlier in April, ZyCrypto reported that JPMorgan was preparing to offer an actively managed bitcoin fund to private wealth clients in partnership with cryptocurrency custody firm NYDIG.

Enthusiasts are now waiting to see whether other Wall Street megabanks that presently offer limited cryptocurrency investing to select clients will follow in JPMorgan’s footsteps.

Back in March, Morgan Stanley became the first big bank to start offering wealthy clients with at least $2 million in assets access to bitcoin funds, and in June Goldman Sachs unveiled a bitcoin futures trading product for its institutional customers.

From Denial To Acceptance

As you can recall, Jamie Dimon, the CEO of the New York-based investment bank called bitcoin a fraud back in 2017 and even threatened to fire employees who traded the asset. Although he still insists he’s not a bitcoin supporter despite the soaring demand among clients, his attitude towards the flagship crypto and the crypto space, in general, has evidently evolved.

Furthermore, JPMorgan now constantly speaks about digital currencies and offers banking services to leading cryptocurrency exchanges Coinbase and Gemini. All these moves suggest that the bank is becoming more open to the cryptocurrency industry.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Allion (ALL) на Currencies.ru

$ 0.0002904 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0.0002904 - H: $0.0002904
Капитализация $1.8k Rank 99999
Доступно / Всего 6.199m ALL

all bitcoin clients funds jpmorgan becoming selection

Источник: zycrypto.com

all bitcoin → Результатов: 126


Фото:

Best Bitcoin Documentaries of All Time [Update 2022]

In only a little over a decade, Bitcoin has risen to become an extremely influential entity, not only in providing a revolutionary new monetary system, providing people with the power to control their finances with no government control, but also in creating extensive projects across the world, sporting incredible investments, all taking inspiration from bitcoins […] The post Best Bitcoin Documentaries of All Time [Update 2022] appeared first on CaptainAltcoin.

2022-4-28 19:33


Фото:

Best Bitcoin Documentaries of All Time [Update 2021]

In only a little over a decade, Bitcoin has risen to become an extremely influential entity, not only in providing a revolutionary new monetary system, providing people with the power to control their finances with no government control, but also in creating extensive projects across the world, sporting incredible investments, all taking inspiration from bitcoins […] The post Best Bitcoin Documentaries of All Time [Update 2021] appeared first on CaptainAltcoin.

2021-8-26 18:32


Does the Recent Stock Market Volatility Showcase Bitcoin’s Growing Popularity?

Our readers may be aware of the fact that stock markets all across the globe have been facing a lot of bearish pressure over the course of the past few weeks. However, despite all this, Bitcoin has continued its strong financial ascent — with the flagship cryptocoin recently breaking past its all-important $8K resistance barrier […]

2019-5-18 07:01


Dutch Bank ABN AMRO Isn’t Opening up a Bitcoin Wallet Yet, But Surveys Customers for Potential Plans

Earlier this month, there had been some speculation that ABN AMRO would be launching their own Cryptocurrency wallet. However, the rumors have since been clarified by the Dutch Bank as false. It all started last week when the bank Implied on Twitter that they would be trying out a new Cryptocurrency wallet called ‘Wallis’ with […]

2019-1-24 22:15


Фото:

Elections Canada Consults With Political Parties on Crypto Donations

According to Elections Canada, the agency that runs federal elections in Canada, there has been “a growing interest” in cryptocurrency donations. This trend has prompted some political parties to ask for a ruling on how best to manage bitcoin and other cryptocurrency political donations and how to navigate the various reporting systems required by both Elections Canada and the parties so that they comply with the Canada Elections Act.

2019-1-24 20:28


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru