JPMorgan gives customers access to five cryptocurrency funds
All clients of the investment bank, including users of the Chase trading app, are now able to invest in funds based on digital assets.
JPMorgan was the first of the largest US investment banks to provide clients with access to cryptocurrency funds. According to the publication, from 19 July JPMorgan Financial Advisors has the opportunity to offer its clients to invest in four funds Grayscale (Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust and Ethereum Classic Trust, as well as in Osprey Bitcoin Trust.
The opportunity to invest in cryptocurrency funds was given to all JPMorgan clients, including users of the Chase trading app, clients whose assets are managed by JPMorgan Advisors, as well as the super-rich.
On July 21, it was revealed that most clients of JPMorgan Investment Bank's Asset and Wealth Management division had begun to view bitcoin as an asset class and wanted to invest in it.
In late May, JPMorgan CEO Jamie Dimon, speaking before the US House Financial Services Committee, called for staying away from cryptocurrencies. Dimon said that this is his personal opinion and it will not affect JPMorgan's work with digital assets in any way.
Some never became operational, many have fallen into obscurity, but there are a few that remain somewhat relevant. As for Bitcoin Cash, the coin's market cap is currently just over $18 billion — more than 50 times less than Bitcoin.