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JPMorgan Chase is reportedly all set to offer crypto exposure to its clients. According to reports, the bank now offers access to six crypto funds, which has been achieved in the last three weeks.
JPMorgan has some of the world’s most prominent and influential clients and exposing them to crypto can be a game-changer for the bank itself as well as the world of crypto.
The investment bank has taken a big step towards offering crypto exposure to clients. However, it is also reported that the bank is quite cautious in offering its new crypto asset services.
If you are also interested in stepping into the crypto space then make sure you use some of the best crypto exchanges. If you are looking to purchase Bitcoin or Ethereum then you can opt for Kraken (U.S. citizens) or SwissBorg.
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What to Know About Crypto Funds Accessible via JPMorgan?
JPMorgan has been covert about the new initiative to offer exposure to crypto funds to its clients. However, the bank has opened access to six crypto funds last month.
The crypto funds now accessible for JPMorgan’s clients are:
- Grayscale Bitcoin Trust
- Bitcoin Cash Trust
- Ethereum Trust
- Ethereum Classic Trust
- Osprey Bitcoin Trust
- New York Digital Investment Group
As compared to other crypto funds, the New York Digital Investment Group (NYDIG) is comparatively new and is owned by Stone Ridge Asset Management. The Stone Ridge Bitcoin Strategy Fund offers clients exposure to BTC through futures markets.
According to reports, the accessible funds mentioned above will be offering their services differently to the clients.
The Osprey and Grayscale funds can be accessed by all users of JPMorgan’s several wealth management platforms.
On the other hand, the NYDIG fund is only accessible to private banking clients.
JPMorgan is an investment banking behemoth and has had a complex history with digital assets. However, this new initiative can revolutionize several things, for the bank’s clients and crypto enthusiasts.
Are you a Potential Crypto Investor or Trader?
Despite the volatility of the crypto market, the importance and utility of digital assets cannot be denied. The crypto market has its good days and bad days. However, people who have been in the crypto space for quite some time are well aware of the patterns to look at and the volatility that comes with it.
At the moment, things are looking up for the crypto market considering:
- Bitcoin has touched the $40,000 region and is trading at $40,474 (at the time of writing).
- Ethereum is near the $2,800 region and is trading at $2,782 (at the time of writing).
The crypto market heavily relies on how the flagship cryptocurrency performs, which seems to be in a good position at the moment.
It has also been noted in the past few weeks and months that major entities, especially BTC Whales, accumulate the digital asset when its price is low. This can signify that Bitcoin is not likely to lose its significance anytime soon.
Therefore, if you are in the USA and are interested in buying BTC then you can use some of the best US-based crypto exchanges.
Nevertheless, if you are a crypto trader, then choosing a suitable exchange is equally important. If you are looking to leverage trade Bitcoin up to 100x, sign-up on Bybit today. You can also use this link to claim a bonus on your first deposit.
