JPMorgan would reportedly provide retail wealth customers access to crypto funds.
JPMorgan Chase & Co. is an American multinational finance bank and business services holding company. The Major U.S. investment bank JPMorgan Chase is reportedly enabling partners to do crypto trades for more of its clients.
According to Business Insider, retail wealth customers at JPMorgan now get access to crypto funds. The report says that all JPMorgan clients soliciting investment advice would have the opportunity to invest in crypto.
This includes those run by financial advisers, retail investors using its trading app, and clients serviced by the private bank.
In addition, JPMorgan clients now have access to Grayscale Investments’ Grayscale Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust, and Ethereum Classic Trust.
They also have access to Osprey Funds’ over-the-counter Bitcoin trust, Osprey Bitcoin Trust. According to the reports, investors may request advisers to execute crypto trades. However, the bank’s advisers may not be entitled to recommend crypto investments.
This is the result of JPMorgan clients who see cryptocurrencies as an asset class, including Bitcoin. Following this, the company’s director of asset and wealth management, Mary Callahan Erdoes, said,
“At the time that the bank would allow clients to “put their money where they want to invest,” purportedly including crypto.”
In March, the firm said that it had designed a new mortgage scheme that gives investors direct access to a basket of crypto-focused companies like MicroStrategy. What is more, the firm lately said it would be hiring for positions focusing on blockchain tech.