Bitcoin Forum

JPMorgan Chase plans to open a bitcoin fund with active management for a limited group of clients. The fund can be launched in the summer, and NYDIG will be responsible for storing the assets. It will be actively managed by the bank, which sets it apart from other existing offerings, including Pantera Capital and Galaxy Digital. These companies buy and store bitcoins for the benefit of customers, but do not perform any other investment management actions.
https://www.coindesk.com/jpmorgan-to-let-clients-invest-in-bitcoin-fund-for-first-time-sources

Let us paint some context here:
https://www.cnbc.com/2017/09/12/jpmorgan-ceo-jamie-dimon-raises-flag-on-trading-revenue-sees-20-percent-fall-for-the-third-quarter.html
https://www.cnbc.com/2018/01/09/jamie-dimon-says-he-regrets-calling-bitcoin-a-fraud.html
And dear Jamie allows his clients to buy exposure to Bitcoin via a JPMorgan fund.
That is life, we know the story, first they ignore you, then they laugh at you, then they fight you, then you win.
Welcome to the club, Jamie.

Anger, denial, depression, acceptance - you can rearrange these terms in places, but acceptance will be in the end anyway. What do we see? Until recently, such large structures denied the importance of bitcoin and cryptocurrency in general. We were convinced from the high rostrum that this was not serious and that it would be temporary. And now the time has passed and now everyone is lining up in order to officially register their participation in this exciting game. What does this mean for us? This means that these guys, having entered this relatively small market with their capital, will first inflate it, and then this inflated bubble may burst.

Let them do deep analysis into what exactly Bitcoin is - as a financial product...

 :D

calling bitcoin holder stupid up to firing his employees who trade BTC or own BTC, that's how he hated Bitcoin but now he wants all you guys to invest thru them. anyone can change when it comes to money and he is now changed.

i wouldn't say JP morgan is bad for crypto but yes it's good that they joined the club but what jamie dimon did will haunt him over and over.  ;D

This is normal) When everyone around makes money selling and buying bitcoin, writes about it on social networks, declares their income with good indicators - this can dissuade even hardened skeptics and pessimists. When the market is growing it is difficult to think badly about it, even if you are a stubborn skeptic. But if things start to decline and the market reverses and the bearish trend takes hold, this guy will again take up his own and will continue to speak badly about bitcoin. In the meantime, he simply does not want to miss out on profits like all people.

This is old news already I think it was the same time as Goldman Sachs took an interest as well in the crypto industry together with JP Morgan knowing that lesser-known crypto focus investments are taking a large chunk of the market share when it comes to investments. Knowing this missing out an opportunity for them will also make them lose their clients if they too took interest in the crypto industry that is why they are now exposing themselves to it.


From what I know JP Morgan ate their word about Bitcoin and this has been a habit of companies who has plans to enter the crypto industry. For me personally eating their own words is a big thing as they are swallowing their pride by doing so and we must appreciate it that big name companies are starting to be part of the crypto industry.

I think Jamie still stands on his claims you know how some people stopped being outwardly racist but they are still racist inside, that is the same for Jamie, I don't welcome this demon of a banker who plans to make profit out of people who don't know a thing or two about bitcoin.

In general, it is surprising that they did it only this year and waited so long. Usually, business sharks, especially banks, react quickly to the opportunity to make good money, but in this case, for some reason, it took quite a long time before such large players as JPMorgan began to participate in the market. Although it is possible that they did it non-publicly before. In any case, this is good for everyone, the market assessed this news as positive.