The investment bank named one of its main tasks to satisfy the demand of users for digital assets
Most of the clients in the asset and wealth management division of investment bank JPMorgan have started to view bitcoin as an asset class and want to invest in it.
The director of this division, Mary Callahan Erodes, announced this in an interview with Bloomberg .
JPMorgan believes it is important to meet its customers’ demand for digital assets, she said.
“A lot of our clients say, ‘This is an asset class and I want to invest.’ Our task is to help them invest money where they want, ”explained Callahan Erodes.
Assigning bitcoin to an asset class is a subjective matter, says Callahan Erodes. Some investors are worried about the high volatility of the first cryptocurrency, she said.
“The imbalances you see today just have to disappear by themselves,” she added.
At the end of May, Goldman Sachs recognized Bitcoin as an asset class.
Then the bank reported on the growing demand for cryptocurrencies among institutional investors and asset managers.
Goldman Sachs was also the first among the largest US investment banks to create a department for cryptocurrency trading. The new department has already successfully traded two types of bitcoin related derivatives.
In June, JPMorgan analysts predicted that the value of bitcoin could drop to $ 25 thousand. They maintain a negative outlook for the main cryptocurrency.
