JP Morgan Opens Access To Cryptocurrency Funds

All of JPMorgan Chase’s wealth management clients now have access to a variety of cryptocurrency funds.

The largest U.S. bank, JPMorgan Chase, has apparently given all of its wealth management clients access to bitcoin assets.

Morgan Stanley established three Bitcoin funds in March, but due to the bank’s strong risk tolerance, the offering was only available to high-net-worth clients.

JPMorgan’s financial advisers can now trade Bitcoin, Bitcoin Cash, Ethereum, and Ethereum Classic funds managed by Grayscale Investments, a renowned cryptocurrency asset management. It will also be able to provide exposure to Osprey Funds’ Bitcoin fund.

However, wealth management professionals will only be able to receive orders from customers, as recruiting investors will be prohibited.

JPMorgan’s director of asset and wealth management, Mary Callahan Erdoes, said in a recent interview that many of the bank’s clients see Bitcoin as a new asset class.

A lot of our clients say, “That’s an asset class, and I want to invest,” and our job is to help them put their money where they want to invest.

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