Another important step for the mass adoption of crypto has just been taken by an important company.
It’s been revealed that JP Morgan allows wealth management clients to access institutional Bitcoin and crypto funds.
The online publication the Daily Hodl notes that Business Insider obtained an internal memo from JP Morgan that indicates the bank’s wealth management clients can now take buy and sell orders for Grayscale Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust, Ethereum Classic products, and Osprey Funds’ Bitcoin Trust.
The wealth managers may only execute crypto trades if their clients request it, and they cannot recommend crypto products, according to Business Insider.
The memo also highlights the fact that the policy change occurred on July 19th.
We suggest that you check out the complete article in order to learn more details.
Bitcoin adoption boom
The mainstream adoption of Bitcoin is going great and this is also mirrored by the king coin’s price.
An interesting live chat had the crypto space on fire a couple of days ago,
During the live chat, Elon Musk said that he wants BTC to succeed and he said that he, Tesla and SpaceX – they all hold Bitcoin.
He also said that he holds Ethereum and a bit of Doge of course. Musk hinted at the fact that Tesla could start accepting Bitcoin once again.
“It looks like bitcoin is shifting a lot more toward renewables and a bunch of the heavy-duty coal plants that were being used…have been shut down, especially in China,” said Musk on Wednesday at The B-Word conference, an event hosted by the Crypto Council for Innovation.
Twitter’s Jack Dorsey was also a guest and he confirmed to investors that Bitcoin will be a “big part” of the company’s future.
Stay tuned for more news.