JPMorgan gave clients access to five cryptocurrency funds
The opportunity to invest in funds based on digital assets received all customers of the investment bank, including users of the trading application Chase
JPMorgan was the first of the largest U.S. investment banks that have given customers access to cryptocurrency funds, reports Business Insider. According to the newspaper, financial consultants JPMorgan from July 19 have the opportunity to offer their clients investment in four funds Grayscale (Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust, and Ethereum Classic Trust, as well as in Osprey Bitcoin Trust.
The opportunity to invest in cryptocurrency funds was given to all clients of JPMorgan, including users of the trading application Chase, clients whose assets are managed by JPMorgan Advisors.
On July 21, it became known that most clients of JPMorgan Investment Bank’s Asset and Wealth Management division have begun to view bitcoin as an asset class and want to invest in it.
Blockchain startups raised a record $4.4 billion in the quarter
The amount invested in the sector increased markedly from the beginning of the year, despite the decline in digital currencies in recent months
Blockchain startups raised $4.38 billion in funding in the second quarter of 2021, according to analyst firm CB Insights. That’s a 30% increase over the first quarter. The amount of funding in the second quarter of 2021 was at an all-time high.
Circle, the issuer of the USDC Stablecoin (a digital coin pegged to the dollar), raised the most. The startup received $440 million from investors and also announced plans to go public through a merger with the SPAC company Concord Acquisition Corp. whose shares are traded on the NYSE.
In second place was hardware cryptocurrency wallet maker Ledger, which raised $380 million in investment. According to Ledger CEO Pascal Gauthier, all institutional investors are now working on a plan to invest in cryptocurrency.
The head of FTX explained the impossibility of bitcoin falling below $10k.
According to Sam Bankman-Fried, the nearest strong support level for bitcoin is in the $20-25k range.
Sam Bankman-Fried, the founder and CEO of the exchange of cryptocurrency derivatives FTX, explained in an interview with Bloomberg why the value of bitcoin will not fall below $10 thousand, according to Bankman-Fried, in case the main cryptocurrency to the $10 thousand will activate a large number of buyers who will not give quotations to fall below.
Also, the head of FTX noted that the nearest strong level of support for bitcoin is in the range of $20-25 thousand Bankman-Fried says that at this level, the coin will start buying investors, even without the certainty of further growth.