JP Morgan now offers access to Bitcoin and Ethereum funds for high-income customers

English Jul 27, 2021

JP Morgan, one of the world's largest investment banks, has given its wealth management clients access to Bitcoin and other cryptocurrency funds.

Customers can now buy and sell five cryptocurrency products through JP Morgan consultants.

The bank now offers customers exposure to Bitcoin, Ethereum, Bitcoin Cash and Ethereum Classic through Grayscale's Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust and Ethereum Classic vehicles. Clients can also invest in Osprey Fund's Bitcoin Trust.

These funds do not mean that JP Morgan clients will personally own the cryptocurrency - they will only have exposure to it.

Grayscale and Osprey are companies that allow investors to have a stake in the world of cryptocurrency, while doing all the complicated things for them - like buying and storing the cryptocurrency itself.

Grayscale is the world's largest crypto asset manager - currently managing $27.5 billion.

New York-based JP Morgan is becoming more open to the crypto world. The company's CEO, Jamie Dimon, previously called Bitcoin "fraud," but now the company regularly talks about digital assets and provides banking services to the top US cryptocurrency companies, Coinbase and Gemini.


Morel Hernandes

Writer passionate about politics, economics, blockchain and crypto-currencies.