Despite the harsh criticism of bitcoin by JPMorgan CEO Jamie Dimon and his previous threats to fire anyone within the company who initiates in bitcoin trading, the firm’s traders will begin trading bitcoin futures by as early as December 2017.
Prior Trading Interests in the Sector
In a recent piece by the Wall Street Journal, news of the investment firm looking to take advantage of digital investments read as follows:
“J.P. Morgan is considering whether to provide its clients access to CME’s new bitcoin product through its futures-brokerage unit.”
JPMorgan Securities Ltd. has already been trading bitcoin through custodian accounts in Sweden since September. The company bought and sold bitcoin using Sweden’s Nordic Nasdaq stock market, using bitcoin exchange-traded note (ETN) provided by XBT Provider.
The news of these trades came almost immediately after JPMorgan CEO threatened to fire the firm’s traders who took part in bitcoin trading. Nearly a month after, Dimon promised to stop discussing bitcoin after receiving harsh condemnation from various experts including prominent venture capital investor Chamath Palihapitiya, security expert John McAfee, and former JPMorgan executive and head of global Macro Alex Gurevich…