According to JPMorgan’s co-president and chief operating officer, the bank giant could even get into Bitcoin trading if demanded from its customers.
If over time an asset class develops that is going to be used by different asset managers and investors, we will have to be involved [...] The demand isn’t there yet, but I’m sure it will be at some point.
said Daniel Pinto in an interview with CNBC on Friday.
Last month, in a conversation with a team of thousands of JPMorgan dealers and vendors, the question also arose as to when the company would enter the bitcoin business. Daniel Pinto is said to have spoken in a positive tone about this. But company CEO Jamie Dimon had previously called bitcoin a scam. Pinto also told CNBC that bitcoin is gaining increasing acceptance. He cited the recent move by fund manager BlackRock, who also placed BTC futures contracts in two of their funds.
In addition, the director pointed out that the Bitcoin market is still unregulated, but once managed, JPMorgan would start attracting customers.
The hype period was still going on this week, with a number of financial institutions commenting positively on bitcoin. One of the most important announcements came perhaps from the custodian BNY Mellon.
