This risk lies in banking customers moving the funds from checking accounts to a CBDC account, eroding commercial banks' funding base.
The mega-bank has started pitching Private Bank clients on a passive bitcoin fund in partnership with NYDIG.
JPMorgan will let wealth management clients invest in Grayscale and Osprey crypto trusts.
Running on JPMorgan’s Onyx blockchain, it was the first cross-border CBDC transaction to use automated-market-making smart contracts.
Kraken is disputing the premise that a wave of GBTC shares hitting the secondary market will drive the price of bitcoin lower.
Investors who locked in borrowed coins will need to repurchase those to repay the loan, cryptocurrency pundits say.
Bitcoin Trust shares bought in January are unlocked next month, and the incentive to reinvest is relatively low.
“We firmly think this will change the nature of the intraday marketplace,” said Mathew McDermott, head of digital assets for Goldman.
It's another sign of bitcoin's bearish trend.
The megabank is on the hunt for its first crop of crypto-savvy employees. Experience with bitcoin and ethereum is “a huge plus.”
Analyst Kenneth Worthington said he believes Coinbase has the potential to grow into something that resembles a more traditional financial institution for crypto.
JPMorgan points to better liquidity conditions as reasons behind ETH's outperformance relative to BTC, which could provide a tailwind.
The platform, to be dubbed “Partior,” will seek to disrupt the traditional payments model and the common pain points that come with it.
The JPMorgan bitcoin fund could roll out as soon as this summer, sources tell CoinDesk. NYDIG will be the fund’s custody provider.
JPMorgan expects bitcoin liquidity should recover, though it may take a few days as market conditions stabilize.