(Reuters) -JPMorgan Chase & Co will allow all of its wealth management clients to access cryptocurrency funds, Business Insider reported Thursday, citing sources.
The bank told its financial advisers in a memo earlier this week to accept buy and sell orders from its wealth management clients for five cryptocurrency products as of July 19, according to the report. https: //
Four of these products are from Grayscale Investments and one from Osprey Funds, according to the report.
JPMorgan (NYSE 🙂 declined to comment on the report.
Its advisers can only execute “unsolicited” crypto trades, Business Insider said, adding that advisers cannot recommend products, only buy and sell on behalf of clients’ request.
The report said JPMorgan’s move applies to all clients seeking investment advice, including those using its Chase trading app, as well as ultra-wealthy clients and those whose assets are managed by JPMorgan Advisors.
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