J.P. Morgan has reportedly allowed all of its wealth management clients to access cryptocurrencies via funds.
J.P. Morgan’s wealth management clients gained access to five crypto products, according to a «Business Insider» report citing an internal memo, effective July 19.
Four of the products are from Grayscale Investments and one is from Osprey funds.
Execution-Only
According to the memo, J.P. Morgan advisors will only execute «unsolicited» crypto trades for clients, including those who use the bank’s Chase trading app.
J.P. Morgan is the latest U.S. bank to ramp up its digital currency offering following global custodian BNY Mellon’s entry into a crypto consortium that includes State Street and six other banks.
