July 22, 2021
(Reuters)-JP Morgan Chase and Company will allow all wealth management clients access to crypto funds, Business Insider reported Thursday, citing sources.
In a memo earlier this week, the bank told its financial advisers to take buy and sell orders from wealth management clients for five cryptocurrency products starting July 19, the report said. https://bit.ly/2WeyK7X
According to the report, four of these products are from Grayscale Investments and one is from Osprey Funds.
JP Morgan declined to comment on this report.
According to Business Insider, advisors are only allowed to perform “one-sided” cryptocurrency transactions, and advisors cannot recommend products, they only buy and sell on behalf of client requests. ..
According to the report, JP Morgan’s move is for all clients seeking investment advice, including ultra-high net worth clients and clients whose assets are managed by JP Morgan Advisors, as well as clients using the Chase Trading app. Applies.
(Report by Sohin iPodder in Bangalore and Elizabeth Dilts Marshall in New York, edited by Aditya Soni and Maju Samuel)
JP Morgan – Business Insider, which provides access to cryptocurrencies for all HNWI clients
Source link JP Morgan – Business Insider, which provides access to cryptocurrencies for all HNWI clients