XBT has continued to fulfil customer orders for bitcoin investment instruments despite CEO Jamie Dimon's comments that bitcoin is a fraud and his warning that employees trading bitcoin will be fired for being "stupid". JPMorgan acts as an agent for buyers of the exchange traded note, JPMorgan Chase, which tracks the value of the cryptocurrency on Nasdaq's Swedish exchange, Nordnet AB. JPMorgan insisted that it doesn't take positions with its own capital, saying: "These are clients purchasing third-party products directly." Along with JPMorgan, Goldman Sachs, Credit Suisse and Morgan Stanley have been acting as brokers on JPMorgan Chase trades.
JPMorgan Chase has continued to fulfil customer orders for bitcoin investment instruments despite CEO Jamie Dimon's comments that bitcoin is a fraud and his warning that employees trading bitcoin will be fired for being "stupid". JPMorgan acts as an agent for buyers of the exchange traded note, XBT, which tracks the value of the cryptocurrency on Nasdaq's Swedish exchange, Nordnet AB. JPMorgan insisted that it doesn't take positions with its own capital, saying: "These are clients purchasing third-party products directly." Along with JPMorgan, Goldman Sachs, Credit Suisse and Morgan Stanley have been acting as brokers on XBT trades.