JPMorgan, one of the leading banks in the world with over $2 trillion assets under management and a history spanning more than 200 years, has announced that it will now offer cryptocurrency trading to all its clients.
The bank had already been offering Bitcoin futures to some institutional investors, but this is the first time JPMorgan opens up cryptocurrency trading for retail clients who are not investing at least $10 million.
In the past, only high-net-worth individuals were permitted to invest in actively managed bitcoin funds. The provision of custody services was the responsibility of NYDIG, a Stone Ridge-owned subsidiary based in New York.
JPMorgan has gained a reputation for being conservative in the cryptocurrency space. However, they are now going all-in and will begin to offer Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Ethereum Classic (ETC) trading to all their clients.
The U.S.’s largest bank is just one of many traditional institutions that have been trying to figure out how this new asset class fits into standard investment portfolios.
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