What JPMorgan's New Fund Means for Bitcoin

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What JPMorgan's New Fund Means for Bitcoin

Motley Fool2021-05-05

JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While...

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erichosk
·2021-05-06
Yeah, they can launder more money.
Reply
1
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Jo5tarz
·2021-05-06
?coin?
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1
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JLo
·2021-05-06
?
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1
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LennartM
·2021-05-06
like and comment please
Reply
4
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Fold Replies
- XNOP593Replying toCelineDang:
  Tqtq
  2021-05-06
  Reply
  Report
- CelineDang:
  reply comment please
  2021-05-06
  Reply
  Report
- XNOP593:
  Comment back pls
  2021-05-06
  Reply
  Report
yhl77
·2021-05-06
Bubble is getting bigger
Reply
3
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- yhl77:
  ok
  2021-05-13
  Reply
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- CelineDang:
  reply comment please
  2021-05-06
  Reply
  Report
Reminisce
·2021-05-06
Like and comment please :(
Reply
5
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- Snowranger:
  Done
  2021-05-06
  Reply
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- 累 and tired of life:
  Abc
  2021-05-06
  Reply
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- CelineDangReplying toReminisce:
  like and comment please
  2021-05-06
  Reply
  Report
View more 2 comments
AnT
·2021-05-06
Crypto is going to be the next bubble that crashes the financial market
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3
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Fold Replies
- AnT:
  You are right!
  2021-05-07
  Reply
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- CelineDang:
  reply comment please
  2021-05-06
  Reply
  Report
- Qkuca:
  bubble is the in thing these days...
  2021-05-06
  Reply
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View more 1 comments
努力學習的韭菜
·2021-05-06
Good
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1
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- CelineDang:
  reply comment please
  2021-05-06
  Reply
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AMz13
·2021-05-06
Fabulous
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1
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Soksok
·2021-05-06
Good
Reply
1
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jakejak3jake
·2021-05-06
What no way
Reply
2
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- jakejak3jake:
  Like
  2021-05-06
  Reply
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AALPHA
·2021-05-06
Wonderful
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1Robo
·2021-05-06
Like
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3
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Fold Replies
- Mando88:
  [开心] [开心]
  2021-05-06
  Reply
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- 1Robo:
  thanks
  2021-05-06
  Reply
  Report
SweetieLook
·2021-05-06
what do u guys think!?
Reply
4
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Fold Replies
- L1324:
  follow the bank [真香]
  2021-05-06
  Reply
  Report
Haohao2324
·2021-05-06
Help to like and comment x100
Reply
7
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- LennartM:
  okay
  2021-05-06
  Reply
  Report
- Cyberboyz:
  Like
  2021-05-06
  Reply
  Report
Showcase
·2021-05-06
Likely
Reply
3
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- windspring:
  wow
  2021-05-07
  Reply
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keithwxy
·2021-05-06
Very liked and very comment very please :))
Reply
3
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- US_watchlist:
  bubble ?
  2021-05-06
  Reply
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- Chriz:
  very very comment
  2021-05-06
  Reply
  Report
- Chriz:
  very very comment
  2021-05-06
  Reply
  Report
Kevin92
·2021-05-06
Like and comment
Reply
3
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Bryan_lyc
·2021-05-06
Like and comment
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- sharenraj:
  Yes
  2021-05-06
  Reply
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Winkingbear
·2021-05-06
Wow interesting
Reply
1
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Fold Replies
- HUAT8:
  wow
  2021-05-06
  Reply
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While...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NGD","symbol_name":"New Gold","start_time":0,"source_url":"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/","article_id":"2133525535","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2133525535","pubTimestamp":1620226200,"sourceInfo":{"source_id":"fool_stock","name":"Motley Fool"},"weMediaInfo":null,"summary":"The newest fund to trade in the popular cryptocurrency is the most surprising one yet.","collect":0,"end_time":0,"defaultTopTitle":"fool.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"NGD":"New Gold"},"translate_title":"摩根大通的新基金对比特币意味着什么","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NGD":0.9},"content_text":"JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.\nHere's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.\n\nImage source: Getty Images.\nHow it's happening\nJPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. \nThe big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.\nIn practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. \nMost other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.\nWhen it's happening\nGrayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF. Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.\nSo why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.\nJPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.\nWhy it matters\nIf all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.\nI predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just one.\nActive management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.\nIf I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile. As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":105114169,"gmtCreate":1620277421551,"gmtModify":1704341240746,"author":{"id":"3575433293784452","authorId":"3575433293784452","name":"erichosk","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/a3dee1aa3a3a3c1814833a4d3f8a5669","crmLevel":1,"crmLevelSwitch":0},"htmlText":"Yeah, they can launder more money.","listText":"Yeah, they can launder more money.","text":"Yeah, they can launder more money.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/105114169","repostId":2133525535,"repostType":4,"repost":{"id":"2133525535","pubTimestamp":1620226200,"share":"https://www.laohu8.com/m/news/2133525535?lang=&edition=full","pubTime":"2021-05-05 22:50","market":"us","language":"en","title":"What JPMorgan's New Fund Means for Bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=2133525535","media":"Motley Fool","summary":"The newest fund to trade in the popular cryptocurrency is the most surprising one yet.","content":"<p><b>JPMorgan Chase</b>&nbsp;(NYSE:JPM)&nbsp;could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed <b>Bitcoin</b>&nbsp;(CRYPTO:BTC)&nbsp;fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.</p>\n<p>Here's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.</p>\n<p><img src=\"https://static.tigerbbs.com/de4e309a22a978f8524b579aba016cb8\" tg-width=\"700\" tg-height=\"463\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h2>How it's happening</h2>\n<p>JPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. </p>\n<p>The big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.</p>\n<p>In practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&amp;P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. </p>\n<p>Most other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.</p>\n<h2>When it's happening</h2>\n<p>Grayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF.&nbsp;Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.</p>\n<p>So why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.</p>\n<p>JPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.</p>\n<h2>Why it matters</h2>\n<p>If all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.</p>\n<p>I predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just <a href=\"https://laohu8.com/S/AONE\">one</a>.</p>\n<p>Active management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.</p>\n<p>If I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile.&nbsp;As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What JPMorgan's New Fund Means for Bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat JPMorgan's New Fund Means for Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-05 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NGD":"New Gold"},"source_url":"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133525535","content_text":"JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.\nHere's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.\n\nImage source: Getty Images.\nHow it's happening\nJPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. \nThe big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.\nIn practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. \nMost other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.\nWhen it's happening\nGrayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF. Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.\nSo why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.\nJPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.\nWhy it matters\nIf all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.\nI predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just one.\nActive management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.\nIf I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile. As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":105389238,"gmtCreate":1620269846024,"gmtModify":1704341110237,"author":{"id":"3566111551860327","authorId":"3566111551860327","name":"Jo5tarz","avatar":"https://static.tigerbbs.com/8cdaa131f223c2f17b3669bce62cc05e","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":3,"crmLevelSwitch":1},"htmlText":"?coin?","listText":"?coin?","text":"?coin?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/105389238","repostId":2133525535,"repostType":4,"repost":{"id":"2133525535","pubTimestamp":1620226200,"share":"https://www.laohu8.com/m/news/2133525535?lang=&edition=full","pubTime":"2021-05-05 22:50","market":"us","language":"en","title":"What JPMorgan's New Fund Means for Bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=2133525535","media":"Motley Fool","summary":"The newest fund to trade in the popular cryptocurrency is the most surprising one yet.","content":"<p><b>JPMorgan Chase</b>&nbsp;(NYSE:JPM)&nbsp;could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed <b>Bitcoin</b>&nbsp;(CRYPTO:BTC)&nbsp;fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.</p>\n<p>Here's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.</p>\n<p><img src=\"https://static.tigerbbs.com/de4e309a22a978f8524b579aba016cb8\" tg-width=\"700\" tg-height=\"463\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h2>How it's happening</h2>\n<p>JPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. </p>\n<p>The big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.</p>\n<p>In practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&amp;P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. </p>\n<p>Most other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.</p>\n<h2>When it's happening</h2>\n<p>Grayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF.&nbsp;Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.</p>\n<p>So why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.</p>\n<p>JPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.</p>\n<h2>Why it matters</h2>\n<p>If all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.</p>\n<p>I predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just <a href=\"https://laohu8.com/S/AONE\">one</a>.</p>\n<p>Active management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.</p>\n<p>If I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile.&nbsp;As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What JPMorgan's New Fund Means for Bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat JPMorgan's New Fund Means for Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-05 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NGD":"New Gold"},"source_url":"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133525535","content_text":"JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.\nHere's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.\n\nImage source: Getty Images.\nHow it's happening\nJPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. \nThe big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.\nIn practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. \nMost other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.\nWhen it's happening\nGrayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF. Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.\nSo why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.\nJPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.\nWhy it matters\nIf all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.\nI predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just one.\nActive management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.\nIf I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile. As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":105958320,"gmtCreate":1620265546660,"gmtModify":1704341016956,"author":{"id":"3570256520357022","authorId":"3570256520357022","name":"JLo","avatar":"https://static.tigerbbs.com/0027dbd7390546f113061635de022f5b","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":7,"crmLevelSwitch":1},"htmlText":"?&nbsp;","listText":"?&nbsp;","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/105958320","repostId":2133525535,"repostType":4,"repost":{"id":"2133525535","pubTimestamp":1620226200,"share":"https://www.laohu8.com/m/news/2133525535?lang=&edition=full","pubTime":"2021-05-05 22:50","market":"us","language":"en","title":"What JPMorgan's New Fund Means for Bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=2133525535","media":"Motley Fool","summary":"The newest fund to trade in the popular cryptocurrency is the most surprising one yet.","content":"<p><b>JPMorgan Chase</b>&nbsp;(NYSE:JPM)&nbsp;could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed <b>Bitcoin</b>&nbsp;(CRYPTO:BTC)&nbsp;fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.</p>\n<p>Here's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.</p>\n<p><img src=\"https://static.tigerbbs.com/de4e309a22a978f8524b579aba016cb8\" tg-width=\"700\" tg-height=\"463\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h2>How it's happening</h2>\n<p>JPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. </p>\n<p>The big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.</p>\n<p>In practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&amp;P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. </p>\n<p>Most other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.</p>\n<h2>When it's happening</h2>\n<p>Grayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF.&nbsp;Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.</p>\n<p>So why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.</p>\n<p>JPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.</p>\n<h2>Why it matters</h2>\n<p>If all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.</p>\n<p>I predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just <a href=\"https://laohu8.com/S/AONE\">one</a>.</p>\n<p>Active management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.</p>\n<p>If I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile.&nbsp;As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What JPMorgan's New Fund Means for Bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat JPMorgan's New Fund Means for Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-05 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NGD":"New Gold"},"source_url":"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133525535","content_text":"JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.\nHere's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.\n\nImage source: Getty Images.\nHow it's happening\nJPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. \nThe big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.\nIn practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. \nMost other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.\nWhen it's happening\nGrayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF. Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.\nSo why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.\nJPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.\nWhy it matters\nIf all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.\nI predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just one.\nActive management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.\nIf I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile. As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":105045973,"gmtCreate":1620261360192,"gmtModify":1704340902438,"author":{"id":"3576017931077934","authorId":"3576017931077934","name":"LennartM","avatar":"https://static.tigerbbs.com/2b888cf8f0c645e538df3ec026d3db37","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"like and comment please","listText":"like and comment please","text":"like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/105045973","repostId":2133525535,"repostType":4,"repost":{"id":"2133525535","pubTimestamp":1620226200,"share":"https://www.laohu8.com/m/news/2133525535?lang=&edition=full","pubTime":"2021-05-05 22:50","market":"us","language":"en","title":"What JPMorgan's New Fund Means for Bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=2133525535","media":"Motley Fool","summary":"The newest fund to trade in the popular cryptocurrency is the most surprising one yet.","content":"<p><b>JPMorgan Chase</b>&nbsp;(NYSE:JPM)&nbsp;could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed <b>Bitcoin</b>&nbsp;(CRYPTO:BTC)&nbsp;fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.</p>\n<p>Here's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.</p>\n<p><img src=\"https://static.tigerbbs.com/de4e309a22a978f8524b579aba016cb8\" tg-width=\"700\" tg-height=\"463\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h2>How it's happening</h2>\n<p>JPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. </p>\n<p>The big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.</p>\n<p>In practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&amp;P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. </p>\n<p>Most other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.</p>\n<h2>When it's happening</h2>\n<p>Grayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF.&nbsp;Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.</p>\n<p>So why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.</p>\n<p>JPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.</p>\n<h2>Why it matters</h2>\n<p>If all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.</p>\n<p>I predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just <a href=\"https://laohu8.com/S/AONE\">one</a>.</p>\n<p>Active management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.</p>\n<p>If I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile.&nbsp;As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What JPMorgan's New Fund Means for Bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat JPMorgan's New Fund Means for Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-05 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NGD":"New Gold"},"source_url":"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133525535","content_text":"JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.\nHere's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.\n\nImage source: Getty Images.\nHow it's happening\nJPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. \nThe big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.\nIn practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. \nMost other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.\nWhen it's happening\nGrayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF. Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.\nSo why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.\nJPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.\nWhy it matters\nIf all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.\nI predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just one.\nActive management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.\nIf I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile. As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4236654,"gmtCreate":1620264579948,"gmtModify":1680787208128,"authorId":3577092942653022,"author":{"id":3577092942653022,"authorId":3577092942653022,"name":"XNOP593","avatar":"https://static.tigerbbs.com/732877c9630f22cc8eb6bebac5e10f6d","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":3582718916471703,"repliedAuthor":{"id":3582718916471703,"authorId":3582718916471703,"name":"CelineDang","avatar":"https://static.tigerbbs.com/8e51a48e7e0c121663678b012d37acb6","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"objectId":105045973,"type":1,"supId":4235876,"prevId":4236481,"content":"<u>Tqtq</u>","text":"<u>Tqtq</u>","html":"<u>Tqtq</u>"},{"id":4236481,"gmtCreate":1620263845950,"gmtModify":1680787206979,"authorId":3582718916471703,"author":{"id":3582718916471703,"authorId":3582718916471703,"name":"CelineDang","avatar":"https://static.tigerbbs.com/8e51a48e7e0c121663678b012d37acb6","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":105045973,"type":1,"supId":4235876,"prevId":0,"content":"reply comment please","text":"reply comment please","html":"reply comment please"},{"id":4235876,"gmtCreate":1620261641136,"gmtModify":1680787198834,"authorId":3577092942653022,"author":{"id":3577092942653022,"authorId":3577092942653022,"name":"XNOP593","avatar":"https://static.tigerbbs.com/732877c9630f22cc8eb6bebac5e10f6d","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":105045973,"type":1,"supId":0,"prevId":0,"content":"Comment back <u>pls</u>","text":"Comment back <u>pls</u>","html":"Comment back <u>pls</u>"}],"langContent":"EN"},{"id":105046971,"gmtCreate":1620261319093,"gmtModify":1704340899686,"author":{"id":"3578210330936790","authorId":"3578210330936790","name":"yhl77","avatar":"https://static.tigerbbs.com/e3f5d104b4f554fe3544bdd3abd635ae","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"Bubble is getting bigger","listText":"Bubble is getting bigger","text":"Bubble is getting bigger","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/105046971","repostId":2133525535,"repostType":4,"repost":{"id":"2133525535","pubTimestamp":1620226200,"share":"https://www.laohu8.com/m/news/2133525535?lang=&edition=full","pubTime":"2021-05-05 22:50","market":"us","language":"en","title":"What JPMorgan's New Fund Means for Bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=2133525535","media":"Motley Fool","summary":"The newest fund to trade in the popular cryptocurrency is the most surprising one yet.","content":"<p><b>JPMorgan Chase</b>&nbsp;(NYSE:JPM)&nbsp;could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed <b>Bitcoin</b>&nbsp;(CRYPTO:BTC)&nbsp;fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.</p>\n<p>Here's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.</p>\n<p><img src=\"https://static.tigerbbs.com/de4e309a22a978f8524b579aba016cb8\" tg-width=\"700\" tg-height=\"463\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h2>How it's happening</h2>\n<p>JPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. </p>\n<p>The big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.</p>\n<p>In practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&amp;P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. </p>\n<p>Most other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.</p>\n<h2>When it's happening</h2>\n<p>Grayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF.&nbsp;Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.</p>\n<p>So why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.</p>\n<p>JPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.</p>\n<h2>Why it matters</h2>\n<p>If all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.</p>\n<p>I predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just <a href=\"https://laohu8.com/S/AONE\">one</a>.</p>\n<p>Active management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.</p>\n<p>If I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile.&nbsp;As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What JPMorgan's New Fund Means for Bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat JPMorgan's New Fund Means for Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-05 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NGD":"New Gold"},"source_url":"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133525535","content_text":"JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.\nHere's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.\n\nImage source: Getty Images.\nHow it's happening\nJPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. \nThe big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.\nIn practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. \nMost other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.\nWhen it's happening\nGrayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF. Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.\nSo why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.\nJPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.\nWhy it matters\nIf all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.\nI predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just one.\nActive management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.\nIf I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile. As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4308446,"gmtCreate":1620868770804,"gmtModify":1680788431303,"authorId":3578210330936790,"author":{"id":3578210330936790,"authorId":3578210330936790,"name":"yhl77","avatar":"https://static.tigerbbs.com/e3f5d104b4f554fe3544bdd3abd635ae","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":105046971,"type":1,"supId":4236567,"prevId":0,"content":"<u>ok</u>","text":"<u>ok</u>","html":"<u>ok</u>"},{"id":4236567,"gmtCreate":1620264178255,"gmtModify":1680787206901,"authorId":3582718916471703,"author":{"id":3582718916471703,"authorId":3582718916471703,"name":"CelineDang","avatar":"https://static.tigerbbs.com/8e51a48e7e0c121663678b012d37acb6","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":105046971,"type":1,"supId":0,"prevId":0,"content":"reply comment please","text":"reply comment please","html":"reply comment please"}],"langContent":"EN"},{"id":105058481,"gmtCreate":1620260899243,"gmtModify":1704340886191,"author":{"id":"3581593400153757","authorId":"3581593400153757","name":"Reminisce","avatar":"https://static.tigerbbs.com/92c223f8247f02218fb8feef301abd6f","vip":1,"hat":"https://static.tigerbbs.com/4c5ceab71416b120bab4604c0754b52a","crmLevel":2,"crmLevelSwitch":1},"htmlText":"Like and comment please :(","listText":"Like and comment please :(","text":"Like and comment please :(","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/105058481","repostId":2133525535,"repostType":4,"repost":{"id":"2133525535","pubTimestamp":1620226200,"share":"https://www.laohu8.com/m/news/2133525535?lang=&edition=full","pubTime":"2021-05-05 22:50","market":"us","language":"en","title":"What JPMorgan's New Fund Means for Bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=2133525535","media":"Motley Fool","summary":"The newest fund to trade in the popular cryptocurrency is the most surprising one yet.","content":"<p><b>JPMorgan Chase</b>&nbsp;(NYSE:JPM)&nbsp;could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed <b>Bitcoin</b>&nbsp;(CRYPTO:BTC)&nbsp;fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.</p>\n<p>Here's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.</p>\n<p><img src=\"https://static.tigerbbs.com/de4e309a22a978f8524b579aba016cb8\" tg-width=\"700\" tg-height=\"463\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h2>How it's happening</h2>\n<p>JPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. </p>\n<p>The big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.</p>\n<p>In practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&amp;P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. </p>\n<p>Most other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.</p>\n<h2>When it's happening</h2>\n<p>Grayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF.&nbsp;Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.</p>\n<p>So why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.</p>\n<p>JPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.</p>\n<h2>Why it matters</h2>\n<p>If all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.</p>\n<p>I predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just <a href=\"https://laohu8.com/S/AONE\">one</a>.</p>\n<p>Active management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.</p>\n<p>If I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile.&nbsp;As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What JPMorgan's New Fund Means for Bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat JPMorgan's New Fund Means for Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-05 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NGD":"New Gold"},"source_url":"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133525535","content_text":"JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.\nHere's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.\n\nImage source: Getty Images.\nHow it's happening\nJPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. \nThe big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.\nIn practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. \nMost other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.\nWhen it's happening\nGrayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF. Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.\nSo why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.\nJPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.\nWhy it matters\nIf all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.\nI predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just one.\nActive management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.\nIf I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile. As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4237235,"gmtCreate":1620267299288,"gmtModify":1680787219113,"authorId":3582013295209832,"author":{"id":3582013295209832,"authorId":3582013295209832,"name":"Snowranger","avatar":"https://static.tigerbbs.com/dfac7c612eed065a985994d454b7693a","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":105058481,"type":1,"supId":0,"prevId":0,"content":"Done","text":"Done","html":"Done"},{"id":4237152,"gmtCreate":1620266988900,"gmtModify":1680787215502,"authorId":3576492761186891,"author":{"id":3576492761186891,"authorId":3576492761186891,"name":"累 and tired of life","avatar":"https://static.tigerbbs.com/aa29f3c7da56608b062745f4f54f8524","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-3","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Legendary Trader","description":"Total number of securities or futures transactions reached 300","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.12.08","exceedPercentage":"93.87%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":8,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":105058481,"type":1,"supId":0,"prevId":0,"content":"Abc","text":"Abc","html":"Abc"},{"id":4236498,"gmtCreate":1620263910721,"gmtModify":1680787207909,"authorId":3582718916471703,"author":{"id":3582718916471703,"authorId":3582718916471703,"name":"CelineDang","avatar":"https://static.tigerbbs.com/8e51a48e7e0c121663678b012d37acb6","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":3581593400153757,"repliedAuthor":{"id":3581593400153757,"authorId":3581593400153757,"name":"Reminisce","avatar":"https://static.tigerbbs.com/92c223f8247f02218fb8feef301abd6f","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-2","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Senior Tiger","description":"Join the tiger community for 1000 days","bigImgUrl":"https://static.tigerbbs.com/0063fb68ea29c9ae6858c58630e182d5","smallImgUrl":"https://static.tigerbbs.com/96c699a93be4214d4b49aea6a5a5d1a4","grayImgUrl":"https://static.tigerbbs.com/35b0e542a9ff77046ed69ef602bc105d","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.01.10","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1001},"crmLevel":2,"crmLevelSwitch":1,"individualDisplayBadges":[]},"objectId":105058481,"type":1,"supId":4235667,"prevId":4235678,"content":"like and comment please","text":"like and comment please","html":"like and comment please"},{"id":4235667,"gmtCreate":1620260930106,"gmtModify":1680787195848,"authorId":3573686260747225,"author":{"id":3573686260747225,"authorId":3573686260747225,"name":"Swifty","avatar":"https://static.tigerbbs.com/25bc2f32857ae0c620f1d9eee6447454","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":105058481,"type":1,"supId":0,"prevId":0,"content":"Can reply to my comment please","text":"Can reply to my comment please","html":"Can reply to my comment please"},{"id":4235678,"gmtCreate":1620260956999,"gmtModify":1680787192334,"authorId":3581593400153757,"author":{"id":3581593400153757,"authorId":3581593400153757,"name":"Reminisce","avatar":"https://static.tigerbbs.com/92c223f8247f02218fb8feef301abd6f","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-2","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Senior Tiger","description":"Join the tiger community for 1000 days","bigImgUrl":"https://static.tigerbbs.com/0063fb68ea29c9ae6858c58630e182d5","smallImgUrl":"https://static.tigerbbs.com/96c699a93be4214d4b49aea6a5a5d1a4","grayImgUrl":"https://static.tigerbbs.com/35b0e542a9ff77046ed69ef602bc105d","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.01.10","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1001},"crmLevel":2,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":105058481,"type":1,"supId":4235667,"prevId":0,"content":"<u>done</u>","text":"<u>done</u>","html":"<u>done</u>"}],"langContent":"EN"},{"id":105022372,"gmtCreate":1620260511396,"gmtModify":1704340874672,"author":{"id":"3578200234343382","authorId":"3578200234343382","name":"AnT","avatar":"https://static.tigerbbs.com/a777c54118c03953e7be94b2700b9768","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":2,"crmLevelSwitch":1},"htmlText":"Crypto is going to be the next bubble that crashes the financial market","listText":"Crypto is going to be the next bubble that crashes the financial market","text":"Crypto is going to be the next bubble that crashes the financial market","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/105022372","repostId":2133525535,"repostType":4,"repost":{"id":"2133525535","pubTimestamp":1620226200,"share":"https://www.laohu8.com/m/news/2133525535?lang=&edition=full","pubTime":"2021-05-05 22:50","market":"us","language":"en","title":"What JPMorgan's New Fund Means for Bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=2133525535","media":"Motley Fool","summary":"The newest fund to trade in the popular cryptocurrency is the most surprising one yet.","content":"<p><b>JPMorgan Chase</b>&nbsp;(NYSE:JPM)&nbsp;could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed <b>Bitcoin</b>&nbsp;(CRYPTO:BTC)&nbsp;fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.</p>\n<p>Here's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.</p>\n<p><img src=\"https://static.tigerbbs.com/de4e309a22a978f8524b579aba016cb8\" tg-width=\"700\" tg-height=\"463\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h2>How it's happening</h2>\n<p>JPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. </p>\n<p>The big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.</p>\n<p>In practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&amp;P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. </p>\n<p>Most other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.</p>\n<h2>When it's happening</h2>\n<p>Grayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF.&nbsp;Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.</p>\n<p>So why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.</p>\n<p>JPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.</p>\n<h2>Why it matters</h2>\n<p>If all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.</p>\n<p>I predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just <a href=\"https://laohu8.com/S/AONE\">one</a>.</p>\n<p>Active management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.</p>\n<p>If I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile.&nbsp;As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What JPMorgan's New Fund Means for Bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat JPMorgan's New Fund Means for Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-05 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NGD":"New Gold"},"source_url":"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133525535","content_text":"JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.\nHere's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.\n\nImage source: Getty Images.\nHow it's happening\nJPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. \nThe big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.\nIn practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. \nMost other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.\nWhen it's happening\nGrayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF. Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.\nSo why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.\nJPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.\nWhy it matters\nIf all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.\nI predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just one.\nActive management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.\nIf I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile. As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4247444,"gmtCreate":1620347896273,"gmtModify":1680787375531,"authorId":3578200234343382,"author":{"id":3578200234343382,"authorId":3578200234343382,"name":"AnT","avatar":"https://static.tigerbbs.com/a777c54118c03953e7be94b2700b9768","vip":1,"crmLevel":2,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":105022372,"type":1,"supId":4236289,"prevId":0,"content":"You are right!","text":"You are right!","html":"You are right!"},{"id":4236561,"gmtCreate":1620264154406,"gmtModify":1680787208968,"authorId":3582718916471703,"author":{"id":3582718916471703,"authorId":3582718916471703,"name":"CelineDang","avatar":"https://static.tigerbbs.com/8e51a48e7e0c121663678b012d37acb6","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":105022372,"type":1,"supId":4236289,"prevId":0,"content":"reply comment please","text":"reply comment please","html":"reply comment please"},{"id":4236289,"gmtCreate":1620263120317,"gmtModify":1680787200956,"authorId":3581385014673304,"author":{"id":3581385014673304,"authorId":3581385014673304,"name":"Qkuca","avatar":"https://static.tigerbbs.com/69a0785cbfa53d9d0452a1870c401782","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":105022372,"type":1,"supId":0,"prevId":0,"content":"bubble is the in thing these days...","text":"bubble is the in thing these days...","html":"bubble is the in thing these days..."},{"id":4235555,"gmtCreate":1620260614340,"gmtModify":1680787196413,"authorId":3574119575606145,"author":{"id":3574119575606145,"authorId":3574119575606145,"name":"L1324","avatar":"https://static.tigerbbs.com/b05b9f32dd8af2590c80da38d48e37fc","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":105022372,"type":1,"supId":0,"prevId":0,"content":"bubble <u>pop</u>","text":"bubble <u>pop</u>","html":"bubble <u>pop</u>"}],"langContent":"EN"},{"id":105028385,"gmtCreate":1620260446347,"gmtModify":1704340871924,"author":{"id":"3574509883626940","authorId":"3574509883626940","name":"努力學習的韭菜","avatar":"https://static.tigerbbs.com/19aa1b1b40d674aceb3714fa8a6ecf98","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/105028385","repostId":2133525535,"repostType":4,"repost":{"id":"2133525535","pubTimestamp":1620226200,"share":"https://www.laohu8.com/m/news/2133525535?lang=&edition=full","pubTime":"2021-05-05 22:50","market":"us","language":"en","title":"What JPMorgan's New Fund Means for Bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=2133525535","media":"Motley Fool","summary":"The newest fund to trade in the popular cryptocurrency is the most surprising one yet.","content":"<p><b>JPMorgan Chase</b>&nbsp;(NYSE:JPM)&nbsp;could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed <b>Bitcoin</b>&nbsp;(CRYPTO:BTC)&nbsp;fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.</p>\n<p>Here's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.</p>\n<p><img src=\"https://static.tigerbbs.com/de4e309a22a978f8524b579aba016cb8\" tg-width=\"700\" tg-height=\"463\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h2>How it's happening</h2>\n<p>JPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. </p>\n<p>The big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.</p>\n<p>In practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&amp;P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. </p>\n<p>Most other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.</p>\n<h2>When it's happening</h2>\n<p>Grayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF.&nbsp;Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.</p>\n<p>So why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.</p>\n<p>JPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.</p>\n<h2>Why it matters</h2>\n<p>If all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.</p>\n<p>I predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just <a href=\"https://laohu8.com/S/AONE\">one</a>.</p>\n<p>Active management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.</p>\n<p>If I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile.&nbsp;As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What JPMorgan's New Fund Means for Bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat JPMorgan's New Fund Means for Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-05 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NGD":"New Gold"},"source_url":"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133525535","content_text":"JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.\nHere's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.\n\nImage source: Getty Images.\nHow it's happening\nJPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. \nThe big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.\nIn practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. \nMost other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.\nWhen it's happening\nGrayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF. Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.\nSo why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.\nJPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.\nWhy it matters\nIf all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.\nI predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just one.\nActive management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.\nIf I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile. As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4236575,"gmtCreate":1620264218840,"gmtModify":1680787208667,"authorId":3582718916471703,"author":{"id":3582718916471703,"authorId":3582718916471703,"name":"CelineDang","avatar":"https://static.tigerbbs.com/8e51a48e7e0c121663678b012d37acb6","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":105028385,"type":1,"supId":0,"prevId":0,"content":"reply comment please","text":"reply comment please","html":"reply comment please"}],"langContent":"EN"},{"id":105064428,"gmtCreate":1620260248764,"gmtModify":1704340864937,"author":{"id":"3581744586945602","authorId":"3581744586945602","name":"AMz13","avatar":"https://static.tigerbbs.com/d70ea31ad456bec5534f80cc3d3ea63a","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"Fabulous&nbsp;","listText":"Fabulous&nbsp;","text":"Fabulous","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/105064428","repostId":2133525535,"repostType":4,"repost":{"id":"2133525535","pubTimestamp":1620226200,"share":"https://www.laohu8.com/m/news/2133525535?lang=&edition=full","pubTime":"2021-05-05 22:50","market":"us","language":"en","title":"What JPMorgan's New Fund Means for Bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=2133525535","media":"Motley Fool","summary":"The newest fund to trade in the popular cryptocurrency is the most surprising one yet.","content":"<p><b>JPMorgan Chase</b>&nbsp;(NYSE:JPM)&nbsp;could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed <b>Bitcoin</b>&nbsp;(CRYPTO:BTC)&nbsp;fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.</p>\n<p>Here's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.</p>\n<p><img src=\"https://static.tigerbbs.com/de4e309a22a978f8524b579aba016cb8\" tg-width=\"700\" tg-height=\"463\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h2>How it's happening</h2>\n<p>JPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. </p>\n<p>The big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.</p>\n<p>In practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&amp;P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. </p>\n<p>Most other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.</p>\n<h2>When it's happening</h2>\n<p>Grayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF.&nbsp;Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.</p>\n<p>So why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.</p>\n<p>JPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.</p>\n<h2>Why it matters</h2>\n<p>If all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.</p>\n<p>I predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just <a href=\"https://laohu8.com/S/AONE\">one</a>.</p>\n<p>Active management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.</p>\n<p>If I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile.&nbsp;As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What JPMorgan's New Fund Means for Bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat JPMorgan's New Fund Means for Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-05 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NGD":"New Gold"},"source_url":"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133525535","content_text":"JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.\nHere's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.\n\nImage source: Getty Images.\nHow it's happening\nJPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. \nThe big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.\nIn practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. \nMost other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.\nWhen it's happening\nGrayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF. Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.\nSo why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.\nJPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.\nWhy it matters\nIf all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.\nI predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just one.\nActive management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.\nIf I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile. As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":105085770,"gmtCreate":1620259753290,"gmtModify":1704340850689,"author":{"id":"3579684763801587","authorId":"3579684763801587","name":"Soksok","avatar":"https://static.tigerbbs.com/03c4a8d2787d3c5042bccff3b0bb60f1","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/105085770","repostId":2133525535,"repostType":4,"repost":{"id":"2133525535","pubTimestamp":1620226200,"share":"https://www.laohu8.com/m/news/2133525535?lang=&edition=full","pubTime":"2021-05-05 22:50","market":"us","language":"en","title":"What JPMorgan's New Fund Means for Bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=2133525535","media":"Motley Fool","summary":"The newest fund to trade in the popular cryptocurrency is the most surprising one yet.","content":"<p><b>JPMorgan Chase</b>&nbsp;(NYSE:JPM)&nbsp;could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed <b>Bitcoin</b>&nbsp;(CRYPTO:BTC)&nbsp;fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.</p>\n<p>Here's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.</p>\n<p><img src=\"https://static.tigerbbs.com/de4e309a22a978f8524b579aba016cb8\" tg-width=\"700\" tg-height=\"463\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h2>How it's happening</h2>\n<p>JPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. </p>\n<p>The big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.</p>\n<p>In practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&amp;P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. </p>\n<p>Most other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.</p>\n<h2>When it's happening</h2>\n<p>Grayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF.&nbsp;Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.</p>\n<p>So why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.</p>\n<p>JPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.</p>\n<h2>Why it matters</h2>\n<p>If all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.</p>\n<p>I predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just <a href=\"https://laohu8.com/S/AONE\">one</a>.</p>\n<p>Active management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.</p>\n<p>If I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile.&nbsp;As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What JPMorgan's New Fund Means for Bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat JPMorgan's New Fund Means for Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-05 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NGD":"New Gold"},"source_url":"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133525535","content_text":"JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.\nHere's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.\n\nImage source: Getty Images.\nHow it's happening\nJPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. \nThe big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.\nIn practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. \nMost other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.\nWhen it's happening\nGrayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF. Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.\nSo why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.\nJPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.\nWhy it matters\nIf all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.\nI predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just one.\nActive management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.\nIf I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile. As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":105038532,"gmtCreate":1620258634426,"gmtModify":1704340820564,"author":{"id":"3581491815672686","authorId":"3581491815672686","name":"jakejak3jake","avatar":"https://static.tigerbbs.com/1881c4ef0863e5796041081ddadee92e","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"What no way","listText":"What no way","text":"What no way","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/105038532","repostId":2133525535,"repostType":4,"repost":{"id":"2133525535","pubTimestamp":1620226200,"share":"https://www.laohu8.com/m/news/2133525535?lang=&edition=full","pubTime":"2021-05-05 22:50","market":"us","language":"en","title":"What JPMorgan's New Fund Means for Bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=2133525535","media":"Motley Fool","summary":"The newest fund to trade in the popular cryptocurrency is the most surprising one yet.","content":"<p><b>JPMorgan Chase</b>&nbsp;(NYSE:JPM)&nbsp;could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed <b>Bitcoin</b>&nbsp;(CRYPTO:BTC)&nbsp;fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.</p>\n<p>Here's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.</p>\n<p><img src=\"https://static.tigerbbs.com/de4e309a22a978f8524b579aba016cb8\" tg-width=\"700\" tg-height=\"463\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h2>How it's happening</h2>\n<p>JPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. </p>\n<p>The big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.</p>\n<p>In practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&amp;P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. </p>\n<p>Most other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.</p>\n<h2>When it's happening</h2>\n<p>Grayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF.&nbsp;Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.</p>\n<p>So why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.</p>\n<p>JPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.</p>\n<h2>Why it matters</h2>\n<p>If all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.</p>\n<p>I predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just <a href=\"https://laohu8.com/S/AONE\">one</a>.</p>\n<p>Active management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.</p>\n<p>If I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile.&nbsp;As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What JPMorgan's New Fund Means for Bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat JPMorgan's New Fund Means for Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-05 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NGD":"New Gold"},"source_url":"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133525535","content_text":"JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.\nHere's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.\n\nImage source: Getty Images.\nHow it's happening\nJPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. \nThe big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.\nIn practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. \nMost other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.\nWhen it's happening\nGrayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF. Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.\nSo why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.\nJPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.\nWhy it matters\nIf all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.\nI predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just one.\nActive management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.\nIf I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile. As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4235012,"gmtCreate":1620258674408,"gmtModify":1680787187889,"authorId":3581491815672686,"author":{"id":3581491815672686,"authorId":3581491815672686,"name":"jakejak3jake","avatar":"https://static.tigerbbs.com/1881c4ef0863e5796041081ddadee92e","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":105038532,"type":1,"supId":0,"prevId":0,"content":"Like","text":"Like","html":"Like"}],"langContent":"EN"},{"id":105031620,"gmtCreate":1620258536760,"gmtModify":1704340819110,"author":{"id":"3575112879260258","authorId":"3575112879260258","name":"AALPHA","avatar":"https://static.tigerbbs.com/7f120257600b00c1840d676f817362d4","vip":1,"crmLevel":2,"crmLevelSwitch":1},"htmlText":"Wonderful&nbsp;","listText":"Wonderful&nbsp;","text":"Wonderful","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/105031620","repostId":2133525535,"repostType":4,"repost":{"id":"2133525535","pubTimestamp":1620226200,"share":"https://www.laohu8.com/m/news/2133525535?lang=&edition=full","pubTime":"2021-05-05 22:50","market":"us","language":"en","title":"What JPMorgan's New Fund Means for Bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=2133525535","media":"Motley Fool","summary":"The newest fund to trade in the popular cryptocurrency is the most surprising one yet.","content":"<p><b>JPMorgan Chase</b>&nbsp;(NYSE:JPM)&nbsp;could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed <b>Bitcoin</b>&nbsp;(CRYPTO:BTC)&nbsp;fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.</p>\n<p>Here's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.</p>\n<p><img src=\"https://static.tigerbbs.com/de4e309a22a978f8524b579aba016cb8\" tg-width=\"700\" tg-height=\"463\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h2>How it's happening</h2>\n<p>JPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. </p>\n<p>The big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.</p>\n<p>In practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&amp;P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. </p>\n<p>Most other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.</p>\n<h2>When it's happening</h2>\n<p>Grayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF.&nbsp;Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.</p>\n<p>So why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.</p>\n<p>JPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.</p>\n<h2>Why it matters</h2>\n<p>If all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.</p>\n<p>I predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just <a href=\"https://laohu8.com/S/AONE\">one</a>.</p>\n<p>Active management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.</p>\n<p>If I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile.&nbsp;As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What JPMorgan's New Fund Means for Bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat JPMorgan's New Fund Means for Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-05 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NGD":"New Gold"},"source_url":"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133525535","content_text":"JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.\nHere's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.\n\nImage source: Getty Images.\nHow it's happening\nJPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. \nThe big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.\nIn practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. \nMost other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.\nWhen it's happening\nGrayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF. Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.\nSo why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.\nJPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.\nWhy it matters\nIf all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.\nI predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just one.\nActive management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.\nIf I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile. As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":105039728,"gmtCreate":1620258463764,"gmtModify":1704340816993,"author":{"id":"3581571479581183","authorId":"3581571479581183","name":"1Robo","avatar":"https://static.tigerbbs.com/d6d78c3153b562ef72e04f138b8a4f8a","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/105039728","repostId":2133525535,"repostType":4,"repost":{"id":"2133525535","pubTimestamp":1620226200,"share":"https://www.laohu8.com/m/news/2133525535?lang=&edition=full","pubTime":"2021-05-05 22:50","market":"us","language":"en","title":"What JPMorgan's New Fund Means for Bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=2133525535","media":"Motley Fool","summary":"The newest fund to trade in the popular cryptocurrency is the most surprising one yet.","content":"<p><b>JPMorgan Chase</b>&nbsp;(NYSE:JPM)&nbsp;could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed <b>Bitcoin</b>&nbsp;(CRYPTO:BTC)&nbsp;fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.</p>\n<p>Here's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.</p>\n<p><img src=\"https://static.tigerbbs.com/de4e309a22a978f8524b579aba016cb8\" tg-width=\"700\" tg-height=\"463\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h2>How it's happening</h2>\n<p>JPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. </p>\n<p>The big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.</p>\n<p>In practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&amp;P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. </p>\n<p>Most other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.</p>\n<h2>When it's happening</h2>\n<p>Grayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF.&nbsp;Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.</p>\n<p>So why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.</p>\n<p>JPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.</p>\n<h2>Why it matters</h2>\n<p>If all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.</p>\n<p>I predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just <a href=\"https://laohu8.com/S/AONE\">one</a>.</p>\n<p>Active management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.</p>\n<p>If I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile.&nbsp;As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What JPMorgan's New Fund Means for Bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat JPMorgan's New Fund Means for Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-05 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NGD":"New Gold"},"source_url":"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133525535","content_text":"JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.\nHere's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.\n\nImage source: Getty Images.\nHow it's happening\nJPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. \nThe big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.\nIn practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. \nMost other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.\nWhen it's happening\nGrayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF. Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.\nSo why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.\nJPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.\nWhy it matters\nIf all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.\nI predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just one.\nActive management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.\nIf I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile. As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4234969,"gmtCreate":1620258507626,"gmtModify":1680787188370,"authorId":3581061044456313,"author":{"id":3581061044456313,"authorId":3581061044456313,"name":"Mando88","avatar":"https://static.tigerbbs.com/f135e12e9726aa04a56e19e7f1991436","vip":1,"crmLevel":7,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":105039728,"type":1,"supId":0,"prevId":0,"content":"[开心] [开心]","text":"[开心] [开心]","html":"[开心] [开心]"},{"id":4235027,"gmtCreate":1620258737343,"gmtModify":1680787186250,"authorId":3581571479581183,"author":{"id":3581571479581183,"authorId":3581571479581183,"name":"1Robo","avatar":"https://static.tigerbbs.com/d6d78c3153b562ef72e04f138b8a4f8a","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":105039728,"type":1,"supId":4234969,"prevId":0,"content":"thanks","text":"thanks","html":"thanks"}],"langContent":"EN"},{"id":105094113,"gmtCreate":1620258300932,"gmtModify":1704340811439,"author":{"id":"3554812674212347","authorId":"3554812674212347","name":"SweetieLook","avatar":"https://static.tigerbbs.com/e9aa3124d3b13e671ec2b7446044171e","vip":1,"hat":"https://static.tigerbbs.com/a3dee1aa3a3a3c1814833a4d3f8a5669","crmLevel":5,"crmLevelSwitch":1},"htmlText":"what do u guys think!?","listText":"what do u guys think!?","text":"what do u guys think!?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/105094113","repostId":2133525535,"repostType":4,"repost":{"id":"2133525535","pubTimestamp":1620226200,"share":"https://www.laohu8.com/m/news/2133525535?lang=&edition=full","pubTime":"2021-05-05 22:50","market":"us","language":"en","title":"What JPMorgan's New Fund Means for Bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=2133525535","media":"Motley Fool","summary":"The newest fund to trade in the popular cryptocurrency is the most surprising one yet.","content":"<p><b>JPMorgan Chase</b>&nbsp;(NYSE:JPM)&nbsp;could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed <b>Bitcoin</b>&nbsp;(CRYPTO:BTC)&nbsp;fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.</p>\n<p>Here's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.</p>\n<p><img src=\"https://static.tigerbbs.com/de4e309a22a978f8524b579aba016cb8\" tg-width=\"700\" tg-height=\"463\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h2>How it's happening</h2>\n<p>JPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. </p>\n<p>The big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.</p>\n<p>In practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&amp;P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. </p>\n<p>Most other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.</p>\n<h2>When it's happening</h2>\n<p>Grayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF.&nbsp;Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.</p>\n<p>So why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.</p>\n<p>JPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.</p>\n<h2>Why it matters</h2>\n<p>If all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.</p>\n<p>I predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just <a href=\"https://laohu8.com/S/AONE\">one</a>.</p>\n<p>Active management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.</p>\n<p>If I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile.&nbsp;As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What JPMorgan's New Fund Means for Bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat JPMorgan's New Fund Means for Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-05 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NGD":"New Gold"},"source_url":"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133525535","content_text":"JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.\nHere's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.\n\nImage source: Getty Images.\nHow it's happening\nJPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. \nThe big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.\nIn practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. \nMost other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.\nWhen it's happening\nGrayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF. Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.\nSo why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.\nJPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.\nWhy it matters\nIf all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.\nI predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just one.\nActive management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.\nIf I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile. As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4235565,"gmtCreate":1620260640391,"gmtModify":1680787196533,"authorId":3574119575606145,"author":{"id":3574119575606145,"authorId":3574119575606145,"name":"L1324","avatar":"https://static.tigerbbs.com/b05b9f32dd8af2590c80da38d48e37fc","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":105094113,"type":1,"supId":0,"prevId":0,"content":"follow the bank  [真香]","text":"follow the bank  [真香]","html":"follow the bank  [真香]"}],"langContent":"EN"},{"id":105007361,"gmtCreate":1620257919253,"gmtModify":1704340798905,"author":{"id":"3572824646640760","authorId":"3572824646640760","name":"Haohao2324","avatar":"https://static.tigerbbs.com/5741ee0bde82c7782d814be80e181a3e","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"Help to like and comment x100","listText":"Help to like and comment x100","text":"Help to like and comment x100","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/105007361","repostId":2133525535,"repostType":4,"repost":{"id":"2133525535","pubTimestamp":1620226200,"share":"https://www.laohu8.com/m/news/2133525535?lang=&edition=full","pubTime":"2021-05-05 22:50","market":"us","language":"en","title":"What JPMorgan's New Fund Means for Bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=2133525535","media":"Motley Fool","summary":"The newest fund to trade in the popular cryptocurrency is the most surprising one yet.","content":"<p><b>JPMorgan Chase</b>&nbsp;(NYSE:JPM)&nbsp;could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed <b>Bitcoin</b>&nbsp;(CRYPTO:BTC)&nbsp;fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.</p>\n<p>Here's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.</p>\n<p><img src=\"https://static.tigerbbs.com/de4e309a22a978f8524b579aba016cb8\" tg-width=\"700\" tg-height=\"463\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h2>How it's happening</h2>\n<p>JPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. </p>\n<p>The big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.</p>\n<p>In practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&amp;P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. </p>\n<p>Most other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.</p>\n<h2>When it's happening</h2>\n<p>Grayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF.&nbsp;Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.</p>\n<p>So why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.</p>\n<p>JPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.</p>\n<h2>Why it matters</h2>\n<p>If all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.</p>\n<p>I predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just <a href=\"https://laohu8.com/S/AONE\">one</a>.</p>\n<p>Active management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.</p>\n<p>If I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile.&nbsp;As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What JPMorgan's New Fund Means for Bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat JPMorgan's New Fund Means for Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-05 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NGD":"New Gold"},"source_url":"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133525535","content_text":"JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.\nHere's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.\n\nImage source: Getty Images.\nHow it's happening\nJPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. \nThe big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.\nIn practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. \nMost other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.\nWhen it's happening\nGrayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF. Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.\nSo why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.\nJPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.\nWhy it matters\nIf all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.\nI predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just one.\nActive management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.\nIf I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile. As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4235809,"gmtCreate":1620261406560,"gmtModify":1680787196824,"authorId":3576017931077934,"author":{"id":3576017931077934,"authorId":3576017931077934,"name":"LennartM","avatar":"https://static.tigerbbs.com/2b888cf8f0c645e538df3ec026d3db37","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":105007361,"type":1,"supId":0,"prevId":0,"content":"okay","text":"okay","html":"okay"},{"id":4235005,"gmtCreate":1620258649669,"gmtModify":1680787186158,"authorId":3583025625698124,"author":{"id":3583025625698124,"authorId":3583025625698124,"name":"Cyberboyz","avatar":"https://static.tigerbbs.com/bda6a2e3c6fe5eaf97f2228f49f8e497","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":105007361,"type":1,"supId":0,"prevId":0,"content":"Like","text":"Like","html":"Like"}],"langContent":"EN"},{"id":105009152,"gmtCreate":1620257499576,"gmtModify":1704340787601,"author":{"id":"3578739466550787","authorId":"3578739466550787","name":"Showcase","avatar":"https://static.tigerbbs.com/48864a971d3cf33ae9e4aed6b49688bc","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Likely&nbsp;","listText":"Likely&nbsp;","text":"Likely","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/105009152","repostId":2133525535,"repostType":4,"repost":{"id":"2133525535","pubTimestamp":1620226200,"share":"https://www.laohu8.com/m/news/2133525535?lang=&edition=full","pubTime":"2021-05-05 22:50","market":"us","language":"en","title":"What JPMorgan's New Fund Means for Bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=2133525535","media":"Motley Fool","summary":"The newest fund to trade in the popular cryptocurrency is the most surprising one yet.","content":"<p><b>JPMorgan Chase</b>&nbsp;(NYSE:JPM)&nbsp;could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed <b>Bitcoin</b>&nbsp;(CRYPTO:BTC)&nbsp;fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.</p>\n<p>Here's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.</p>\n<p><img src=\"https://static.tigerbbs.com/de4e309a22a978f8524b579aba016cb8\" tg-width=\"700\" tg-height=\"463\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h2>How it's happening</h2>\n<p>JPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. </p>\n<p>The big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.</p>\n<p>In practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&amp;P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. </p>\n<p>Most other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.</p>\n<h2>When it's happening</h2>\n<p>Grayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF.&nbsp;Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.</p>\n<p>So why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.</p>\n<p>JPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.</p>\n<h2>Why it matters</h2>\n<p>If all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.</p>\n<p>I predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just <a href=\"https://laohu8.com/S/AONE\">one</a>.</p>\n<p>Active management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.</p>\n<p>If I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile.&nbsp;As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What JPMorgan's New Fund Means for Bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat JPMorgan's New Fund Means for Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-05 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NGD":"New Gold"},"source_url":"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133525535","content_text":"JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.\nHere's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.\n\nImage source: Getty Images.\nHow it's happening\nJPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. \nThe big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.\nIn practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. \nMost other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.\nWhen it's happening\nGrayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF. Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.\nSo why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.\nJPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.\nWhy it matters\nIf all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.\nI predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just one.\nActive management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.\nIf I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile. As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4245114,"gmtCreate":1620337316214,"gmtModify":1680787349012,"authorId":3575962000596639,"author":{"id":3575962000596639,"authorId":3575962000596639,"name":"windspring","avatar":"https://community-static.tradeup.com/news/9db5e6cf6f2c0772fd2a8ed3eec6b8f9","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-3","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Legendary Trader","description":"Total number of securities or futures transactions reached 300","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.28","exceedPercentage":"93.81%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":105009152,"type":1,"supId":0,"prevId":0,"content":"<u>wow</u>","text":"<u>wow</u>","html":"<u>wow</u>"}],"langContent":"EN"},{"id":102771677,"gmtCreate":1620257181999,"gmtModify":1704340776472,"author":{"id":"3576027044492853","authorId":"3576027044492853","name":"keithwxy","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"Very liked and very comment very please :))","listText":"Very liked and very comment very please :))","text":"Very liked and very comment very please :))","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/102771677","repostId":2133525535,"repostType":4,"repost":{"id":"2133525535","pubTimestamp":1620226200,"share":"https://www.laohu8.com/m/news/2133525535?lang=&edition=full","pubTime":"2021-05-05 22:50","market":"us","language":"en","title":"What JPMorgan's New Fund Means for Bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=2133525535","media":"Motley Fool","summary":"The newest fund to trade in the popular cryptocurrency is the most surprising one yet.","content":"<p><b>JPMorgan Chase</b>&nbsp;(NYSE:JPM)&nbsp;could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed <b>Bitcoin</b>&nbsp;(CRYPTO:BTC)&nbsp;fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.</p>\n<p>Here's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.</p>\n<p><img src=\"https://static.tigerbbs.com/de4e309a22a978f8524b579aba016cb8\" tg-width=\"700\" tg-height=\"463\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h2>How it's happening</h2>\n<p>JPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. </p>\n<p>The big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.</p>\n<p>In practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&amp;P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. </p>\n<p>Most other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.</p>\n<h2>When it's happening</h2>\n<p>Grayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF.&nbsp;Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.</p>\n<p>So why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.</p>\n<p>JPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.</p>\n<h2>Why it matters</h2>\n<p>If all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.</p>\n<p>I predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just <a href=\"https://laohu8.com/S/AONE\">one</a>.</p>\n<p>Active management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.</p>\n<p>If I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile.&nbsp;As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What JPMorgan's New Fund Means for Bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat JPMorgan's New Fund Means for Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-05 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NGD":"New Gold"},"source_url":"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133525535","content_text":"JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.\nHere's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.\n\nImage source: Getty Images.\nHow it's happening\nJPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. \nThe big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.\nIn practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. \nMost other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.\nWhen it's happening\nGrayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF. Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.\nSo why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.\nJPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.\nWhy it matters\nIf all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.\nI predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just one.\nActive management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.\nIf I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile. As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4234791,"gmtCreate":1620257772887,"gmtModify":1680787181763,"authorId":3581244873474125,"author":{"id":3581244873474125,"authorId":3581244873474125,"name":"US_watchlist","avatar":"https://static.tigerbbs.com/c45e6bbe1cefb0fecde067a20b3c788f","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":102771677,"type":1,"supId":0,"prevId":0,"content":"bubble ?","text":"bubble ?","html":"bubble ?"},{"id":4234683,"gmtCreate":1620257348635,"gmtModify":1680787178525,"authorId":3561335246727315,"author":{"id":3561335246727315,"authorId":3561335246727315,"name":"Chriz","avatar":"https://static.tigerbbs.com/8c393b32112334e204b0590fb83bbc7d","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":102771677,"type":1,"supId":0,"prevId":0,"content":"very very <u>comment</u>","text":"very very <u>comment</u>","html":"very very <u>comment</u>"},{"id":4234675,"gmtCreate":1620257303316,"gmtModify":1680787176417,"authorId":3561335246727315,"author":{"id":3561335246727315,"authorId":3561335246727315,"name":"Chriz","avatar":"https://static.tigerbbs.com/8c393b32112334e204b0590fb83bbc7d","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":102771677,"type":1,"supId":0,"prevId":0,"content":"very very comment","text":"very very comment","html":"very very comment"}],"langContent":"EN"},{"id":102773264,"gmtCreate":1620257155458,"gmtModify":1704340774988,"author":{"id":"3576274545052910","authorId":"3576274545052910","name":"Kevin92","avatar":"https://static.tigerbbs.com/c5ff4addbbdb8d9d15fec29f9709b0c3","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/102773264","repostId":2133525535,"repostType":4,"repost":{"id":"2133525535","pubTimestamp":1620226200,"share":"https://www.laohu8.com/m/news/2133525535?lang=&edition=full","pubTime":"2021-05-05 22:50","market":"us","language":"en","title":"What JPMorgan's New Fund Means for Bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=2133525535","media":"Motley Fool","summary":"The newest fund to trade in the popular cryptocurrency is the most surprising one yet.","content":"<p><b>JPMorgan Chase</b>&nbsp;(NYSE:JPM)&nbsp;could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed <b>Bitcoin</b>&nbsp;(CRYPTO:BTC)&nbsp;fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.</p>\n<p>Here's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.</p>\n<p><img src=\"https://static.tigerbbs.com/de4e309a22a978f8524b579aba016cb8\" tg-width=\"700\" tg-height=\"463\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h2>How it's happening</h2>\n<p>JPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. </p>\n<p>The big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.</p>\n<p>In practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&amp;P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. </p>\n<p>Most other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.</p>\n<h2>When it's happening</h2>\n<p>Grayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF.&nbsp;Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.</p>\n<p>So why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.</p>\n<p>JPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.</p>\n<h2>Why it matters</h2>\n<p>If all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.</p>\n<p>I predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just <a href=\"https://laohu8.com/S/AONE\">one</a>.</p>\n<p>Active management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.</p>\n<p>If I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile.&nbsp;As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What JPMorgan's New Fund Means for Bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat JPMorgan's New Fund Means for Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-05 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NGD":"New Gold"},"source_url":"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133525535","content_text":"JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.\nHere's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.\n\nImage source: Getty Images.\nHow it's happening\nJPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. \nThe big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.\nIn practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. \nMost other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.\nWhen it's happening\nGrayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF. Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.\nSo why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.\nJPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.\nWhy it matters\nIf all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.\nI predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just one.\nActive management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.\nIf I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile. As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":102742438,"gmtCreate":1620256881224,"gmtModify":1704340766242,"author":{"id":"3565920966285810","authorId":"3565920966285810","name":"Bryan_lyc","avatar":"https://static.tigerbbs.com/66a10601cf8b6aaa3feafd891bc9778e","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/102742438","repostId":2133525535,"repostType":4,"repost":{"id":"2133525535","pubTimestamp":1620226200,"share":"https://www.laohu8.com/m/news/2133525535?lang=&edition=full","pubTime":"2021-05-05 22:50","market":"us","language":"en","title":"What JPMorgan's New Fund Means for Bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=2133525535","media":"Motley Fool","summary":"The newest fund to trade in the popular cryptocurrency is the most surprising one yet.","content":"<p><b>JPMorgan Chase</b>&nbsp;(NYSE:JPM)&nbsp;could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed <b>Bitcoin</b>&nbsp;(CRYPTO:BTC)&nbsp;fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.</p>\n<p>Here's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.</p>\n<p><img src=\"https://static.tigerbbs.com/de4e309a22a978f8524b579aba016cb8\" tg-width=\"700\" tg-height=\"463\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h2>How it's happening</h2>\n<p>JPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. </p>\n<p>The big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.</p>\n<p>In practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&amp;P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. </p>\n<p>Most other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.</p>\n<h2>When it's happening</h2>\n<p>Grayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF.&nbsp;Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.</p>\n<p>So why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.</p>\n<p>JPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.</p>\n<h2>Why it matters</h2>\n<p>If all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.</p>\n<p>I predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just <a href=\"https://laohu8.com/S/AONE\">one</a>.</p>\n<p>Active management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.</p>\n<p>If I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile.&nbsp;As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What JPMorgan's New Fund Means for Bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat JPMorgan's New Fund Means for Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-05 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NGD":"New Gold"},"source_url":"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133525535","content_text":"JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.\nHere's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.\n\nImage source: Getty Images.\nHow it's happening\nJPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. \nThe big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.\nIn practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. \nMost other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.\nWhen it's happening\nGrayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF. Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.\nSo why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.\nJPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.\nWhy it matters\nIf all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.\nI predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just one.\nActive management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.\nIf I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile. As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4234583,"gmtCreate":1620256964788,"gmtModify":1680787179269,"authorId":3580564583915483,"author":{"id":3580564583915483,"authorId":3580564583915483,"name":"sharenraj","avatar":"https://static.tigerbbs.com/87891e8bd4a4c403422a9336c006d749","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":102742438,"type":1,"supId":0,"prevId":0,"content":"Yes","text":"Yes","html":"Yes"}],"langContent":"EN"},{"id":102741767,"gmtCreate":1620256765459,"gmtModify":1704340762317,"author":{"id":"3566159832938847","authorId":"3566159832938847","name":"Winkingbear","avatar":"https://static.tigerbbs.com/fa59ca544b59fdba57ec5b04668be509","vip":1,"crmLevel":6,"crmLevelSwitch":0},"htmlText":"Wow interesting","listText":"Wow interesting","text":"Wow interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/102741767","repostId":2133525535,"repostType":4,"repost":{"id":"2133525535","pubTimestamp":1620226200,"share":"https://www.laohu8.com/m/news/2133525535?lang=&edition=full","pubTime":"2021-05-05 22:50","market":"us","language":"en","title":"What JPMorgan's New Fund Means for Bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=2133525535","media":"Motley Fool","summary":"The newest fund to trade in the popular cryptocurrency is the most surprising one yet.","content":"<p><b>JPMorgan Chase</b>&nbsp;(NYSE:JPM)&nbsp;could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed <b>Bitcoin</b>&nbsp;(CRYPTO:BTC)&nbsp;fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.</p>\n<p>Here's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.</p>\n<p><img src=\"https://static.tigerbbs.com/de4e309a22a978f8524b579aba016cb8\" tg-width=\"700\" tg-height=\"463\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h2>How it's happening</h2>\n<p>JPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. </p>\n<p>The big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.</p>\n<p>In practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&amp;P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. </p>\n<p>Most other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.</p>\n<h2>When it's happening</h2>\n<p>Grayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF.&nbsp;Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.</p>\n<p>So why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.</p>\n<p>JPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.</p>\n<h2>Why it matters</h2>\n<p>If all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.</p>\n<p>I predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just <a href=\"https://laohu8.com/S/AONE\">one</a>.</p>\n<p>Active management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.</p>\n<p>If I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile.&nbsp;As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What JPMorgan's New Fund Means for Bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat JPMorgan's New Fund Means for Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-05 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NGD":"New Gold"},"source_url":"https://www.fool.com/investing/2021/05/05/what-jpmorgans-new-fund-means-for-bitcoin/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133525535","content_text":"JPMorgan Chase (NYSE:JPM) could become the biggest U.S. bank to embrace cryptocurrency as an asset class as early as this summer with the launch of an actively managed Bitcoin (CRYPTO:BTC) fund. While reports of the bank's plans and timelines have not been confirmed on the record by JPMorgan, the sources seem to be consistent and credible.\nHere's how JPMorgan is changing its tune on Bitcoin and hopping on the BTC fund bandwagon in a different way -- and why it matters for crypto investors.\n\nImage source: Getty Images.\nHow it's happening\nJPMorgan CEO Jamie Dimon has made his disdain for Bitcoin no secret. As recently as 2017, Dimon called Bitcoin a fraud. He even predicted that \"someone is going to get killed\" in its wake. While Dimon still isn't the cryptocurrency's biggest fan, JPMorgan has since started planning a Bitcoin fund for a limited number of its private wealth clients. Client demand for Bitcoin has simply forced JPMorgan into action, just as the bank predicted it would eventually do -- despite its CEO's opinion. \nThe big difference between JPMorgan's proposed Bitcoin fund and most other existing (or proposed) Bitcoin funds is active management. This distinction means that JPMorgan will professionally manage the fund for a fee, with the end goal of achieving higher returns than a straight investment in Bitcoin or a passively managed Bitcoin ETF would attain.\nIn practice, there is not much evidence that actively managed funds outperform passively managed funds. The best quick illustration of this may be Warren Buffet's big bet against the hedge fund industry -- the famous investor bet a hedge fund manager that an S&P 500 index fund (i.e., a low-fee passively managed ETF) would outperform a portfolio of hedge funds (i.e., high-fee actively managed funds) over a 10-year period. Buffet won the bet. \nMost other Bitcoin funds (including well-known Grayscale Investments' massive Bitcoin fund) behave more like exchange-traded funds (ETFs), meaning that their prices move in direct correlation with the market without fund management intervention. JPMorgan would have to time the market incredibly well to prove that its active management of Bitcoin can outperform its passive market counterparts.\nWhen it's happening\nGrayscale and other newly proposed ETFs from major U.S. banks are caught in a race for SEC approval to be the first American Bitcoin ETF. Canada's recently approved Bitcoin ETF and the involvement of big-name U.S. banks in ETF applications have put pressure on the SEC and raised expectations for approval in the near future.\nSo why the rush for a Bitcoin ETF anyway? Simply put, they are easier and more convenient than a direct investment in Bitcoin, especially for investors who are not totally comfortable in a crypto exchange. With a Bitcoin ETF, an individual can invest in the asset through their traditional market exchange without worrying about complex security issues like protecting digital wallet passwords. Unfortunately, early investors in Bitcoin have lost hundreds of millions of dollars in digital wallets with forgotten passwords.\nJPMorgan does not seem to expect any regulatory trouble launching its fund by this summer. Meanwhile, the SEC has delayed any decisions on Bitcoin ETFs until this summer at the earliest, setting any and all Bitcoin ETFs most likely behind JPMorgan's fund in timeline.\nWhy it matters\nIf all goes as planned, JPMorgan's fund will be the first actively managed Bitcoin-specific fund. This is an objectively unprecedented, exciting move in the Bitcoin world; however, whether an actively managed Bitcoin fund will be more cost-efficient than a direct investment or ETF investment is yet to be determined.\nI predict that it will be more cost-efficient for almost all investors to buy Bitcoin directly or through a no-fee ETF and keep an eye on its price fluctuations. While JPMorgan hasn't revealed any fee structure yet, actively managed funds usually involve steep costs (compared to ETFs or direct investments) because the funds manage the buying and selling of several different assets -- not just one.\nActive management of Bitcoin, as opposed to active management of an entire portfolio of varied cryptocurrency assets, is a unique and new concept in the crypto market. But this doesn't necessarily mean it will outperform more varied actively managed crypto funds or even Bitcoin itself. Still, the fund's existence will be important for the overall maturity of the crypto market.\nIf I were to buy more BTC, I would likely do it before this summer with a plan to hold for the long term, since Bitcoin ETF approvals are likely to make headlines and increase trading volume. The approval of these funds from major banks and the ensuing heightened demand for Bitcoin will likely raise the crypto's price in the long run, spurring further acceptance of Bitcoin as an asset class. With that said, the crypto market is unpredictable and notoriously volatile. As always, only invest an amount that you're willing to lose in risky cryptocurrency assets.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4236376,"gmtCreate":1620263388352,"gmtModify":1680787213072,"authorId":3554811401768317,"author":{"id":3554811401768317,"authorId":3554811401768317,"name":"HUAT8","avatar":"https://static.tigerbbs.com/285db011b214150701fb409a7a900a7b","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":102741767,"type":1,"supId":0,"prevId":0,"content":"<u>wow</u>","text":"<u>wow</u>","html":"<u>wow</u>"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":151,"commentSize":48,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}