9 March: JPMorgan launches 'crypto exposure' product
An SEC filing on Tuesday by the bank showed it is creating a "basket of companies with exposure to cryptocurrency" that will be dominated by MicroStrategy and Square. JPMorgan will create debt products linked to the performance of the crypto basket, giving investors indirect exposure to the cryptocurrency market.
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.
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.
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.