{"id":9863,"date":"2021-07-21T00:54:51","date_gmt":"2021-07-21T00:54:51","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/jpmorgan-says-a-lot-of-clients-see-cryptocurrency-as-asset-class-and-want-to-invest\/"},"modified":"2021-07-21T00:54:51","modified_gmt":"2021-07-21T00:54:51","slug":"jpmorgan-says-a-lot-of-clients-see-cryptocurrency-as-asset-class-and-want-to-invest","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/jpmorgan-says-a-lot-of-clients-see-cryptocurrency-as-asset-class-and-want-to-invest\/","title":{"rendered":"JPMorgan Says a Lot of Clients See Cryptocurrency as Asset Class and Want to Invest"},"content":{"rendered":"

JPMorgan says a lot of its asset and wealth management clients think cryptocurrency is an asset class and they want to invest in it. \u201cOur job is to help them to put their money where they want to invest,\u201d said the CEO of J.P. Morgan Asset & Wealth Management.<\/strong><\/p>\n

A Lot of JPMorgan Clients Consider Cryptocurrency an Asset Class<\/h2>\n

Mary Callahan Erdoes, J.P. Morgan Asset & Wealth Management\u2019s CEO, talked about her firm\u2019s approach to cryptocurrencies in an interview with Bloomberg Wealth, published Tuesday.<\/p>\n

JPMorgan Chase\u2019s asset and wealth management line of business is one of the world\u2019s largest investment managers and private banks, with $3.4 trillion in client assets.<\/p>\n

Erdoes, who joined the firm 20 years ago, was asked what she would do if a client came to JPMorgan and said that they wanted to invest in cryptocurrency. Specifically, she was asked: \u201cDo you say you shouldn\u2019t do it? do you facilitate it? or are you still evolving your position?\u201d<\/p>\n

The chief executive replied by first commenting about blockchain technology. \u201cBlockchain technology \u2026 it\u2019s very real and it\u2019s changing all of the ways that we digitally interact in the different financial markets,\u201d she opined.<\/p>\n

The J.P. Morgan Asset & Wealth Management CEO proceeded to talk about cryptocurrencies. \u201cDigital currencies are new, and in general digital currencies are being debated as to whether they are an asset class or not,\u201d she described, elaborating:<\/p>\n

A lot of our clients say that\u2019s an asset class and I want to invest. Our job is to help them to put their money where they want to invest.<\/p>\n

\u201cIt\u2019s a very personal thing,\u201d Erdoes continued. \u201cWe don\u2019t have bitcoin as an asset class per se, and time will tell whether it has a store of value. But the volatility that you see in it today, it just has to play itself out over time.\u201d<\/p>\n

<\/p>\n

Her comments echoed what JPMorgan CEO Jamie Dimon said<\/a> in May when he personally advised people to \u201cstay away\u201d from cryptocurrency. However, he noted, \u201cThat does not mean the clients don\u2019t want it \u2026 I don\u2019t tell people how to spend their money, regardless of how I might personally feel about something.\u201d<\/p>\n

While JP Morgan may not currently see cryptocurrency or bitcoin as an asset class, rival investment bank Goldman Sachs said<\/a> in May that bitcoin has become \u201can investable asset.\u201d The firm explained, \u201cClients and beyond are largely treating it as a new asset class, which is notable \u2014 it\u2019s not often that we get to witness the emergence of a new asset class.\u201d<\/p>\n

The CEO of Blackrock, the world\u2019s largest asset manager, said<\/a> in April: \u201cI am fascinated by it [cryptocurrency] as an asset class \u2026 I do believe this could become a great asset class.\u201d<\/p>\n

What do you think about the comments by the JPMorgan executive? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nFeatured, bitcoin asset class, crypto asset class, cryptocurrency asset class, Goldman Sachs, JP Morgan, jpmorgan, JPMorgan clients, JPMorgan crypto asset class, want to invest<\/p>\n","protected":false},"excerpt":{"rendered":"

JPMorgan says a lot of its asset and wealth management clients think cryptocurrency is an asset class and they want to invest in it. \u201cOur job is to help them to put their money where they want to invest,\u201d said the CEO of J.P. Morgan Asset & Wealth Management. A Lot of JPMorgan Clients Consider…<\/p>\n","protected":false},"author":0,"featured_media":9864,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-9863","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/9863"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=9863"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/9863\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/9864"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=9863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=9863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=9863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}