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![](https://steemitimages.com/DQmS6K6KEob5mHVKiEkfMFPcaXV9fgU56SdWg641CXxT3wF/image.png)

Well, JPMorgan Chase has now called Bitcoin the 

## "HOLY GRAIL

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for their clients saying that:

...  bitcoin-based exchange-traded fund (ETF) could be the “holy grail for owners and investors”.

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However, one branch of his firm has now championed a form of Bitcoin-based investment vehicle as its view on cryptocurrencies evolves.

The JPMorgan report titled “Decrypting Cryptocurrencies: Technology, Applications and Challenges,” states crypto can help clients diversify their holdings. 

> "There are still some good reasons why even seasoned investors are reluctant to get involved in direct investments relating to cryptocurrencies. 

> ... an actively traded ETF will allow people to invest in Bitcoin without actually buying them."

-- says  Daniele Bianchi, Assistant Professor of Finance at Warwick Business School


![](https://steemitimages.com/DQmQpAqeJsd3B1HcFvQLfse6f5Q9beE61jZ5wpgBq19GX6U/image.png)


Mr Bianchi  also states that JPMorgan’s move is a further step towards the "normalisation" of bitcoin and its legitimacy as an investment class, which, he adds, remains ”highly speculative.”

and also that ETF's are:

>  ... “basically an investment vehicle that tracks the spot price of Bitcoin and works just like a standard ETF.”


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- An ETF (exchange-traded fund) is a marketable security that tracks a commodity, an index, bonds, or baskets of assets such as an index fund.

- Unlike mutual funds, an ETF trades like a common stock on a stock exchange and experience price changes throughout the day as they are bought and sold.

Jamie Dimon the head of JPMC has really been forced to walk back  some negative statements, since BTC and Crypto is making him look foolish regularly.  

![](https://steemitimages.com/DQmYK8DGgy3rE64KPdx8pUTkMgokT15r66M97kEEN5N29sg/image.png)

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In short, Bitcoin ETFs are a particular type of ETF that mimic Bitcoin’s price.

Benjamin Dives, CEO of London Block Exchange (LBX) says Bitcoin-linked ETFs are an alternative way of investing in cryptocurrency – except investors don't own the asset, saying:

>  “Instead, they're investing in a fund that owns the underlying asset – bitcoin - and will see their investment grow if the fund's holdings appreciate."


![](https://steemitimages.com/DQmdmJZL6MqBo35NtFP2kjzhJZ775dZbUUgpCTr3rMZKUcD/image.png)


So is this, as JPMorgan now state, really the “holy grail for owners and investors”? 

Is a bitcoin-like product truly ready for the capital markets?

Mr Dives also stated that 

> "In some ways, they're similar to mutual funds.

"ETFs allow people to purchase shares of the fund during regular trading hours via a broker and, unlike mutual funds, the price can vary throughout the day.

"The share price is linked directly to the value of the fund’s holdings.

“Because it opens up the opportunity for both institutional and retail investors to invest in Bitcoin without actually holding the currency. This makes such an investment much more accessible and much less expensive.”


https://media.giphy.com/media/GMIbzgzyS4pws/giphy.gif


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Thanks for reading, have a nice day.

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http://i.imgur.com/68SXQpW.gif

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https://steemit.com/health/@barrydutton/daily-digital-detox-a-steemit-community-life-series-and-reminder-or-e-60-or-intentionally-regularly-unplugging-my-quick

https://steemit.com/freedom/@barrydutton/inside-anarchapulco-2018-7-video-7-mins-really-good-inside-look-at-the-hotel-poolside-beach-amenities-at-anarchapulco-2018

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