JPMorgan Becomes First Big Bank To Give Retail Wealth Clients Access To Crypto Funds

jpmorgan becomes first big bank to give retail wealth clients access to crypto funds

Sumary of JPMorgan Becomes First Big Bank To Give Retail Wealth Clients Access To Crypto Funds:

  • Back in September 2017, billionaire JPMorgan CEO Jamie Dimon lashed out at a relatively new – for boomer institutional investors – asset class, bitcoin, which Dimon said “won’t end well,” predicting it will eventually blow up as “it’s a fraud” and “worse than tulip bulbs.
  • but as Insider reports today, JPMorgan has become the first major bank to “gave its financial advisors the green light to give all its wealth-management clients access to cryptocurrency funds.
  • ” The move applies to all JPMorgan clients seeking investment advice, including its bank’s self-directed clients using its commission-free Chase trading app, mass affluent clients whose assets are managed by financial advisors under JPMorgan Advisors, and ultrarich clients serviced by the private bank.
  • The funds JPMorgan has approved include Grayscale’s Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust, and Ethereum Classic vehicles, as well as Osprey Funds’ Bitcoin Trust, Insider reports.

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