JPMorgan now recognizes the fantastic potential that a Bitcoin-based ETF can offer. When communicating with its clients about the multiple benefits of such a financial product, the megabank refers to it as the “holy grail for owners and investors.” This proclamation occurs when the total cryptocurrency market cap surpasses JPMorgan’s.
The Many Benefits of Bitcoin ETFs
Business Insider reports that on February 9, 2018, JPMorgan informed its clients of the benefits that Bitcoin ETFs would bring, underlining the following:
- Easier access: “Investors need wallets to trade the physical Bitcoins today, making it hard to access. ETFs are frequently traded and highly accessible via investors’ brokerage accounts.”