Investment bank JPMorgan has decided to let its advisors offer clients access to five crypto funds. Those funds are available to any wealth management clients that want investment advice from the bank. This makes JPMorgan the first major bank to offer crypto trading access not only to super-wealthy clients.
On July 19th, JPMorgan advisors began to take orders for purchasing or selling five crypto products. Four of them belong to Grayscale Investments – Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust, and Ethereum Classic Trust. The last one is Osprey Funds’ Bitcoin Trust.
“We are excited to be onboarded to the JPMorgan wealth platform. OBTC remains the lowest-priced publicly traded bitcoin fund in the U.S. and we believe JPMorgan’s clients will see value in the product,” declared the founder and CEO of Osprey Funds, Greg King.
JPMorgan has definitely changed its stance on crypto – in 2017, Jamie Dimon, the CEO of the company, announced that any employee who traded Bitcoin would be fired.