Fun

JPMorgan Quietly Offers 6 Crypto Investments Despite CEO Jamie Dimon’s Anti-Bitcoin Stance

News Feed - 2021-08-06 11:08:25

JPMorgan Quietly Offers 6 Crypto Investments Despite CEO Jamie Dimon"s Anti-Bitcoin Stance


Global investment bank JPMorgan is now offering six cryptocurrency investment funds to clients despite its CEO, Jamie Dimon, continually advising against investing in bitcoin and other cryptocurrencies. JPMorgan Chase has quietly begun giving its wealth management clients access to six cryptocurrency investment funds, CNBC reported Thursday, citing people with knowledge of the move. On Thursday, the bank’s financial advisors were allowed to begin placing private bank clients into a new bitcoin fund created by crypto firm New York Digital Investment Group (NYDIG), a subsidiary of Stone Ridge, a $10 billion alternative asset manager. This fund is nearly identical to the one NYDIG offers Morgan Stanley’s clients, the people said. Morgan Stanley began offering three crypto investment funds to clients early this year. They are Galaxy Bitcoin Fund LP, the Galaxy Institutional Bitcoin Fund LP, and FS NYDIG Select Fund. Last month, JPMorgan began offering five cryptocurrency funds to all clients. Four of the funds are Grayscale Investments’ products: the Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust, and Ethereum Classic Trust. The fifth fund is Osprey Funds’ Bitcoin Trust. According to CNBC, the sources speaking about the crypto investment offerings declined to be identified, each citing Jamie Dimon’s anti-crypto stance. The CEO of JPMorgan Chase has been one of the most outspoken critics of bitcoin and cryptocurrencies. He called BTC a fraud back in September 2017 but later regretted making the statement. As JPMorgan was preparing to offer crypto investment to clients, CEO Dimon publicly advised people to “stay away” from cryptocurrency. While stating that he did not care about bitcoin, the JPMorgan boss admitted that clients are interested. In July, the bank said that lots of clients see cryptocurrency as an asset class and they want to invest in it.


What do you think about JPMorgan quietly offering clients bitcoin investment funds despite CEO Jamie Dimon advising people to stay away from cryptocurrency? Let us know in the comments section below. Demand for Crypto Analytics Continues as Messari Raises $21 Million FINANCE | 17 hours ago Coinbase Enables Crypto Buys With Apple Pay, Instant $100K Cashouts, Google Pay to Follow FINANCE | 24 hours ago Tags in this story Jamie Dimon, JP Morgan, jpmorgan, jpmorgan bitcoin, jpmorgan crypto, jpmorgan crypto investments, jpmorgan cryptocurrency, jpmorgan gbtc


Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

India Freezes Bitcoin at Binance Amid Investigation Involving Crypto Exchange Wazirx
India Freezes Bitcoin at Binance Amid Investigation Involving Crypto Exchange Wazirx India’s Enforcement Directorate (ED) says it has frozen more than 77.6 bitcoins that wer
Helen Partz13 hours agoMassachusetts launches probe into AI in securities industryMassachusetts securities regulators seek to ensure that AI applications in the securities industry will not harm the interests of their us
Crypto Exchange Binance Approved by French Regulator as a Fully Regulated Digital Asset Service Provider
Crypto Exchange Binance Approved by French Regulator as a Fully Regulated Digital Asset Service Provider Cryptocurrency exchange Binance has received regulatory approval from the F
FBI Profiles Top 10 Most Wanted Fugitive ‘Crypto Queen’ Ruja Ignatova of Onecoin Scam
FBI Profiles Top 10 Most Wanted Fugitive "Crypto Queen" Ruja Ignatova of Onecoin Scam The Federal Bureau of Investigation (FBI) profiled the Onecoin cryptocurrency scam and its co-
Prashant Jha3 hours agoEthereum scaling protocols drive zero-knowledge proof use: Finance RedefinedThe top 100 DeFi tokens had a mixed week, with most of the tokens trading in a narrow range before surging on July 13 cou
FivebalanceUSA Exploring Adding ShibaInu Token as an Additional Reward
FivebalanceUSA Exploring Adding ShibaInu Token as an Additional Reward press release PRESS RELEASE. Miami, FL – As the first and only company publicly known to date to use bl
Bitcoin Treasury Firms Are This Cycle’s Bubble, Experts Warn
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
William Suberg12 hours agoBitcoin hugs $29.5K into CPI as odds split over new US inflation spikeBitcoin looks set to benefit little from the latest CPI figures, analysts warn, with fresh BTC price losses firmly on the ca
Turner Wright6 hours agoUK financial watchdog could give crypto firms until January 2024 for marketing complianceCompanies offering crypto services to U.K. residents have an Oct. 8 deadline to run “clear, fair and not
Shiba Inu Price Flashes Historical Bull Flag, Here’s What Happened Last Time
Este artículo también está disponible en español. Technical analysis suggests that Shiba Inu is currently positioned at a critical price junction, one that could lead to
BTC’s Lower Price Shrinks Bitcoin Mining Profits, Hashrate Remains Unaffected
BTC"s Lower Price Shrinks Bitcoin Mining Profits, Hashrate Remains Unaffected While bitcoin’s fiat value has dropped more than 70% below the all-time high recorded in Novemb
India’s Crypto Trading Volume Plunges Further as Mobikwik Stops Payment Service
India"s Crypto Trading Volume Plunges Further as Mobikwik Stops Payment Service Cryptocurrency trading volumes in India have plunged further across exchanges as traders mull over t