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10 May 2021

From nay to yay: JPMorgan’s path to crypto could shake up finance

From nay to yay: JPMorgan’s path to crypto could shake up finance

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Not only that, but more recently, he seems to have relaxed his anti-crypto stance, claiming that crypto is here to stay and that it is now only a matter of time before governments across the globe start to regulate their local digital asset markets with an iron fist.

In fact, there are speculations that the fund could be rolled at as soon as this summer, with insiders claiming that fintech firm NYDIG will provide its custody services to the banking behemoth.

Additionally, it has also been reported that JPMorgan’s Bitcoin fund will be “actively managed,” which comes in stark contrast to the passive fare currently offered by many crypto players such as Pantera Capital and Galaxy Digital.

Mattia Rattaggi, managing partner of Meti Advisory AG and former managing director and head of regulatory affairs and governance reporting for UBS, believes that the vast majority of banks have long neglected Bitcoin and cryptocurrencies in general out of the fear of associating themselves with a source of potentially negative headlines, as well as the fear of industries, like decentralized finance, that can have a direct impact on their centralized business model

Expounding his views on the subject of whether more traditional financial entities will continue to enter the space, Simon noted that banks that are just starting to make their crypto foray are still “early movers,” implying that there is still room for many more such players to make their way into this rapidly evolving space

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