JPMorgan is a Global Investment Bank. And the company has given a green signal to its advisor to provide their clients with up to 5 new crypto funds. The said funds are always available for all JPMorgan’s trustworthy and loyal clients. And, this firm is the first Multinational bank to trust in crypto and also expand it. Now, the crypto trading access has gone beyond just the rich and wealthy clients.
JPMorgan on crypto funding
Yes, the company did create a policy where the advisors can provide clients access to only 5 crypto funds. We got this report on Thursday, where people directly familiar with the matter spoke about it.
As I was saying that the big step by JPM creates a big buzz around the town, city, and even country. It is one of the first banks to expand its crypto trading access successfully. And the policy goes beyond the ultra-rich families.
As of July 19, the company officially makes a statement saying the advisors can take orders as well as sell at most 5 crypto products. Among them, there is the BTC Trust, Ethereum Trust, BTC cash Trust, and Ethereum Classic Trust. And last but not least, the fifth one is an approved fund, i.e., Osprey Funds’ BTC Trust.
Some facts about the firm
The firm is widely accounted for global financial services, and it is one of the largest U.S. banks by assets. The service that the company provides mostly includes consumer banking, investment banking, asset management for few individuals, corporations, and even the government.
And About J.P. MORGAN, he is known for reorganizing different businesses to make them more profitable to gain control over them. Morgan is also behind organising the major railroads and immediately became a well-known railroad magnate. Additionally, he was also part of industrial consolidations.
Know More about the Crypto funding
A person directly involved with such decisions said that the new policy by the company is for the ones who are seeking advice regarding investment, finance, and banking.
With small steps, the company is now standing at a point where it can easily consider cryptocurrency trading. I am mentioning this because 4 years ago, the CEO said he’ll fire employees if they are investing in bitcoin. Although in May 2021, he again asked people to stay away from cryptocurrency, however, he did consider his clients’ demands related to crypto.
Mary Callahan Erdoes, Asset and Wealth Management CEO of JPMorgan, says that many clients view crypto as an asset. Hence, they are all interested in investing.
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