Is JPMorgan turning a new leaf after opposing Bitcoin for years?

Is JPMorgan turning a new leaf after opposing Bitcoin for years?
ôîòî ïîêàçàíî ñ : invezz.com

2021-4-27 18:02

A recent report has revealed that JPMorgan is planning for its clients to have access to an actively managed Bitcoin fund.

NYDIG will act as custody of the fund while it is accessible to the bank’s private wealth clients.

According to sources familiar with the development, JPMorgan plans to make the funds available to clients as soon as this summer. This makes it different from other large funds which are passively managed.

JPMorgan is turning a new leaf

The move is in contrast to the bank’s earlier resolve on Bitcoin (BTC) when the token was put under severe scrutiny by the bank’s board. In 2017, JPMorgan’s chief executive officer Jamie Dimon stated that Bitcoin is “worse than tulip bulbs.” He added that the cryptocurrency will eventually go into extinction.

He went as far as saying any JPMorgan trader caught trading the cryptocurrency will be fired immediately.

Four years on, Bitcoin has even attracted more interest and seen more adoption. Now the bank has turned a new leaf, as it wants to allow clients to invest in Bitcoin fund.

With the recent move by the bank, it could be succumbing to clients’ pressure, who are increasingly turning to crypto investments.

According to the announcement, the fund will be offered to certain private clients.

While JPMorgan has been actively opposing Bitcoin for years, the company has a different disposition to the blockchain, the technology that created Bitcoin. So, the news of direct involvement in Bitcoin may not be a complete surprise.

More Bitcoin adoption

The year is only approaching its mid-term, and the level of new entrants to the industry has already skyrocketed. Big players hold the key to broader adoption, and it seems some of them are gradually turning up, with JPMorgan being the latest.

Observers believe that as more institutional players in the global financial system keep offering crypto or Bitcoin services to their clients, Bitcoin will continue seeing massive adoption.

The post Is JPMorgan turning a new leaf after opposing Bitcoin for years? appeared first on Invezz.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) íà Currencies.ru

$ 69740.18 (+1.30%)
Îáúåì 24H $21.037b
Èçìåíåèÿ 24h: 0.67 %, 7d: 4.25 %
Cåãîäíÿ L: $68291.91 - H: $69740.18
Êàïèòàëèçàöèÿ $1374.179b Rank 1
Öåíà â ÷àñ íîâîñòè $ 54728.46 (27.43%)

clients jpmorgan fund bitcoin bank private nydig

clients jpmorgan → Ðåçóëüòàòîâ: 31


Ôîòî:

JPMorgan is launching a new Bitcoin Fund for wealthier clients

For years, JPMorgan has been a harsh critic of the crypto industry. However, now that it has embraced it, it did not do it halfheartedly. The bank is regularly coming up with new ideas on how to make cryptocurrencies closer to its clients, and right now, it has started pitching its private, wealthy clients an […] The post JPMorgan is launching a new Bitcoin Fund for wealthier clients appeared first on Invezz.

2021-8-6 16:56


‘I Don’t Understand!’: Watch Ripple’s CEO Rant Against JPMorgan’s Cryptocurrency

In a Brad Garlinghouse vs. Jamie Dimon crypto showdown, the Ripple chief is not the least bit intimidated by his Wall Street rival. Ripple CEO Unloads on JPMorgan Cryptocurrency at DC Blockchain Summit Garlinghouse was featured as the keynote speaker at DC Blockchain Summit 2019, where he gave a fireside chat with Nasdaq’s Jill Malandrino.

2019-3-10 01:30


Binance: JPMorgan Token a ‘Stepping Stone’ to Mass Crypto Adoption

JPMorgan’s controversial blockchain token might not be a real cryptocurrency, but researchers say it could help spark concrete crypto adoption. Binance Argues JPMorgan’s Dubious Crypto Project Will Spur Real Adoption In a new article from Binance Research, one of the world’s largest cryptocurrency exchanges deems JPM Coin a “stepping stone” toward mass adoption.

2019-3-2 01:32


Ôîòî:

Whistleblower Makes $30M – JPMorgan Makes $24 Billion

Financial regulators have recently announced their largest-ever award for the informants who blew the whistle on a financial institution. The business in question has in the past betrayed the trust of its clients, misled its investors, and even found time to operate a ‘systematic bribery’ scheme – yet it recorded a legal profit of $24 […] The post Whistleblower Makes $30M – JPMorgan Makes $24 Billion appeared first on Crypto Briefing.

2018-7-13 18:36