If JPMorgan’s Clients Are Dumb Enough To Purchase Bitcoin Futures, JPMorgan May Simply Assist Them Do It

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If JPMorgan’s Customers Are Dumb Enough To Buy Bitcoin Futures, JPMorgan May Simply Help Them Do It

There are lots of reasons somebody like Jamie Dimon should not utter more than a few noncommittal syllables about a thing like bitcoin. For one, as quickly as you come out calling it a scams and saying you ‘d fire anybody who traded on it, everybody’s going to freak out and you’re going to have to continue meddle bitcoin: J.P. Morgan is thinking about whether to supply its clients access to CME’s new bitcoin item through its futures-brokerage system, a person acquainted with the circumstance stated. That suggests the bank’s customers could utilize it to place bets on whether the digital currency will rise or fall, while J.P. Morgan collects costs for such services. The process has included examining whether there is need amongst J.P. Morgan’s customers for the proposed CME bitcoin contract, inning accordance with this person.This was the inevitable effect of CME introducing into the crypto space with a futures product pegged to the worth of bitcoin. Now that traders can purchase bitcoin direct exposure with a simple mass-market derivative, they can avoid the sketchy and bewildering procedure of in fact acquiring the tokens themselves. That suggests no stressing over trusting some janky third-party exchange of indeterminate origin and probity, no squirreling away physical personal secrets to protect your lucre, no beat Goldman to the punch.

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