Wall Street Banks, JP Morgan and UBS, Likely to Support Portfolio Managers Trading Crypto

In one of the biggest developments in the crypto space in recent while, two banking giants, JP Morgan and Switzerland based UBS have declared that they would be partnering to offer support to portfolio managers who are actively trading in cryptocurrency, according to a report from The Street.

The report noted that though these banks are currently strategizing on how to work on this, it also revealed that the “hedge fund-of-funds units of both JP Morgan and UBS” would be in charge of this operations.

Interestingly, JPMorgan and UBS are not the only Wall Street institution looking to build on their interest in the crypto space; other players are willing to join the crypto space. Recall in May 2021 that Wells Fargo also showed interest when it said its investment unit would work on building crypto strategies for high-interest clients.

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