JPMorgan, the largest US bank, has opened access to cryptocurrency funds for all clients in its asset management division
Until now, banks in the US that launched cryptocurrency funds only allowed their wealthy customers to access their cryptocurrency funds. For the first time in the US, a bank has begun allowing access to cryptocurrency funds for all its clients in its asset management division.
JPMorgan, the largest bank in the USA, made a new decision in response to strong demand from its customers, opening access to cryptocurrency funds for all its clients in the asset management division. JPMorgan now allows retail asset clients to access Bitcoin, Bitcoin Cash, Ethereum and Ethereum Classic funds. Previously it only allowed wealthy clients to access cryptocurrency funds, now it allows retail asset clients to access cryptocurrency funds as well. JPMorgan became the first bank in the United States to offer this service.
Many people see some cryptocurrencies, especially Bitcoin (BTC), as an asset class and invest in this direction. The number of people investing in cryptocurrencies is increasing day by day. The biggest feature of the crypto market is that it allows everyone to invest, not just the rich. Anyone can invest in cryptocurrencies very easily. They do not even need to deal with many procedures determined by banks or others. Aware of the interest in the crypto market, many banks are forced to make new decisions in order not to lose their customers.
In addition, the interest in decentralized finance (DeFi) is increasing day by day. And investors bored with traditional finance are switching to decentralized finance, which offers newer features. Investment institutions that see this situation are trying not to lose their customers and take new decisions. Many banks will take similar decisions in the future. In fact, I think that in the future, many of them will offer crypto services to all their customers.
Posted Using LeoFinance Beta