JPMorgan launches new Bitcoin (BTC) fund for wealthy clients

The US financial holding JPMorgan Chase partnered with NYDIG to offer Private Bank clients a new Bitcoin (BTC) fund.

In late April the CoinDesk website revealed the information about this new BTC fund, stating that it would become one of the most secure and affordable investment vehicles for trading Bitcoin. In the interview to the Wall Street Journal JPMorgan CEO James Dimon said “I am not a Bitcoin supporter, I don’t really care about Bitcoin. On the other hand, clients are interested and I don’t tell clients what to do.”

What is JPMorgan Planning to Do Next?

With the high requirements of the Securities and Exchange Commission (SEC) met, the new BTC fund will become an easy gateway to Bitcoin exposure. Many companies, including NYDIG, have already filed for a Bitcoin ETF application to the SEC and are now eagerly waiting for them to be reviewed, yet JPMorgan is not on that list.

As reported by Business Insider, all the JPMorgan wealthy clients have gained the access to such Bitcoin funds as GBTC through their brokerage accounts. The new BTC fund works on an in-house basis and can be accessed by the clients of JPMorgan Private Bank only.

Now that one of the leading US banks, JPMorgan Chase, is providing its retail clients with access to Bitcoin exposure, it is safe to say that more banks will follow suit. This move also shows the market is hungry for investment products that provide a gateway into Bitcoin.

Plus d’actions
Partagez

( Rédacteur & Trader )

Belgium native who has a passion for writing. Since 2015 I have understood that the blockchain will radically change our lives, and I absolutely want to share my findings with you!

DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Back To Top

Newsletter

Get the best and most up-to-date crypto news straight to your inbox

Newsletter subscription

Archives

Read the latest newsletters
Click here

Free coaching

Free coaching/ Receive a free hour of coaching with an expert/ Fill in this form and our expert will contact you within 48 hours./Log into your coaching portal

© Copyright Cointribune - tous droits réservés

Agence Tempo