Chase bank and bitcoins

02.02.2020

chase bank and bitcoins

In , J.P. Morgan became the first global bank to design a network to facilitate Investor Relations: opens new window to JPMorgan Chase & Co. Jamie Dimon, the chief executive of JPMorgan Chase, the nation's largest bank, called Bitcoin a “terrible” store of value that was also. JPMorgan Chase & Co. Also in the realm of cryptocurrencies, China's Bank of Communications Co. sees Never miss a story about Bitcoin. ERROR CRYPTO MAP HAS ENTRIES WITH REVERSE ROUTE INJECTION ENABLED

And some financial experts argue that well-thought-out regulation would be beneficial in the U. However, cryptocurrency supporters are wary of further regulation -- they worry that certain regulatory framework may stifle crypto innovation in the U. For his part, Dimon has held firm in his anti-crypto outlook. I have no interest in it. But personal opinions aside, JPMorgan Chase "clients are interested, and I don't tell clients what to do," he said.

Sign up now: Get smarter about your money and career with our weekly newsletter. Skip Navigation. Spend How much grocery prices have increased as inflation reaches a year high Mike Winters. Success A year-old founder of a billion-dollar company credits his success to this With little fanfare, JPMorgan Chase has started giving its wealth management clients access to six crypto funds in the past month.

On Thursday, financial advisors were allowed to begin placing private bank clients into a new bitcoin fund created with crypto firm NYDIG , according to people with knowledge of the move. The sources declined to be identified speaking about the offerings, each citing an awkward fact: JPMorgan CEO Jamie Dimon has been one of Wall Street's most outspoken skeptics of bitcoin and related digital assets.

The moves by JPMorgan, the biggest U. It follows earlier steps by rivals Morgan Stanley and Goldman Sachs to offer bitcoin funds to clients, CNBC first reported, and hundreds of smaller banks have lined up to do the same. While Dimon has called bitcoin a " fraud " that wouldn't end well, there were signs that his resistance was eroding. Earlier this year, pressure at JPMorgan was building as clients asked for bitcoin exposure and employees openly pondered when the bank would get involved.

In May, with his bank in advanced negotiations with crypto firms to offer the array of funds, Dimon reiterated that he still didn't support bitcoin. But he conceded that " clients are interested , and I don't tell clients what to do. Bitcoin investors are more bullish than ever after big Miami crypto conference. A new stablecoin issuer is buying billions of dollars in bitcoin. What crypto investors need to know.

Small investors are stepping up bullish bets on bitcoin, open interest data shows. A Grayscale spokeswoman said that the firm is "excited to see that respected financial institutions such as JPMorgan are listening and responding to growing investor interest in digital currencies.