Despite Bitcoin (BTC) not yet emerging as an “asset class per se,” JPMorgan considers it important to meet the demand for cryptocurrency investment, according to a senior wealth management executive.
A large number of JPMorgan clients see digital currencies like Bitcoin as an asset class, the company’s director of asset and wealth management Mary Callahan Erdoes said.
In a Bloomberg interview released Tuesday, Erdoes stressed that the bank will continue providing crypto services to meet the growing demand, stating:
“A lot of our clients say that’s an asset class, and I want to invest, and our job is to help them put their money where they want to invest.”
Erdoes said that the debate about whether cryptocurrencies constitute an asset class is still ongoing as many experts are concerned about the market’s extreme volatility.
“It’s a very personal thing. We don’t have Bitcoin as an asset class per se,” Erdoes stated, adding that it remains to be seen whether the cryptocurrency is a store of