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The part-time DJ further clarified that although the crypto industry is set to evolve into something huge, he does not personally hold any Bitcoin or Ethereum. “I don’t personally own Bitcoin or Ethereum and I don’t have a strong view” he added, before saying that the bank’s customers were, however, free to “do what they think they wanna do”.
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One month later, JPMorgan would quietly launch six crypto funds for its wealthy clients citing increased demand, despite the bank’s C.E.O’s tough stance on cryptocurrencies.
As cryptocurrencies become increasingly adopted globally, bank chiefs are increasingly seeing the need to shelve their harsh criticism against the industry. In its place, they are opting to launch digital asset investment assets or call for regulation in the fear of missing out. 2021 has seen the largest number of banks adopting cryptocurrencies even as institutional and retail demand continues to surge.
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