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Cryptocurrency Funds from JPMorgan. The bank provided access to all clients.

Cryptocurrency Funds

Cryptocurrency Funds from JPMorgan. The bank provided access to all clients.

All clients of the investment bank, including users of the Chase trading application, received the opportunity to invest in cryptocurrency funds based on digital assets.

JPMorgan was the first of the largest American investment banks to provide clients with access to cryptocurrency funds, Business Insider reports. According to the publication, financial advisers at JPMorgan have been able to offer their clients investments in four Grayscale funds (Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust, and Ethereum Classic Trust), as well as in the Osprey Bitcoin Trust since July 19.

All JPMorgan clients, including users of the Chase trading app, clients managed by JPMorgan Advisors, and the ultra-rich, have been able to invest in crypto funds.

Employees of a financial holding company cannot recommend investment products based on cryptocurrencies, but they have the right to conduct transactions related to them at the request of customers. JPMorgan was the first major bank to offer this opportunity.

On July 21, it became known that most of the clients of the asset and capital management division of the investment bank JPMorgan began to view bitcoin as an asset class and want to invest in it.

In late May, JPMorgan CEO Jamie Dimon, speaking to the US House of Representatives Financial Services Committee, called for staying away from cryptocurrencies. Dimon noted that this is his personal opinion and it will not affect JPMorgan’s work with digital assets in any way.

In May 2021, the head of the organization, Jamie Dimon, admitted that the consumers served by the bank are interested in the first cryptocurrency. He stressed that he himself remains a skeptic about digital gold.

Competitors in the financial industry, including Goldman Sachs, Morgan Stanley, and Bank of America, have yet to open up direct access to cryptocurrency-based products to retail customers.

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Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.

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