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J.P. Morgan Chase Bitcoin Crypto Currency Investing (2021)


J.P. Morgan Self-Directed Investing crypto trading account fees. How to buy or sell crypto currencies mutual fund, blockchain fund, ETF, BAT, NEO, Ripple, Stellar, Cardano, Dogecoin, Ethereum (ETH), Bitcoin (BTC), Bitcoin Cash (BCH), and Litecoin (LTC) in Chase.



Bitcoin Trading at JP Morgan Chase


If you thought you couldn’t trade Bitcoin or other cryptocurrencies inside your J.P. Morgan Chase account, you should think again. It is possible, and we’re going to show you how.


What J.P. Morgan Chase Offers...And What It Doesn’t


It’s true that J.P. Morgan Chase does not offer direct trading in Bitcoin or other cryptocurrencies. But it does offer trading in funds that hold digital currencies. It also offers trading in stocks that are investing in the blockchain.


What Is the Blockchain?


Every transaction of Bitcoin or any other digital currency is recorded on a cloud-based register. This digital record book has a bright future, which is why many technology companies are investing in it.


Blockchain Stocks


One company that is building its own blockchain service is Alibaba. The tech giant has built a Blockchain as a Service (BaaS) platform that provides many digital money transfer services, including data assets sharing and supply chain finance.

Alibaba trades on the New York Stock Exchange as an American Depository Receipt under ticker symbol BABA. J.P. Morgan Chase’s profile for the security shows an overweight rating from JPMorgan and an overall buy rating from 7 other analysts.


Bitcoin at Webull


If trading OTC securities doesn’t appeal to you, and you’re not interested in blockchain technology, there is always direct trading in Bitcoin and other digital currencies. Although this great service isn’t available at J.P. Morgan Chase, it is available at Webull.

Webull clients can currently buy and sell four cryptocurrencies, one of which is Bitcoin. The broker doesn’t charge any commissions on crypto trades, and the minimum investment is just a dollar. Learn more...


How to buy bitcoin on Webull


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Trading at Webull vs. Trading at J.P. Morgan Chase


One of the big differences between trading Bitcoin at Webull and trading crypto securities at J.P. Morgan Chase is that the latter investments are protected by the SIPC, while the former are not. SIPC only insures securities, and Bitcoin and other digital currencies aren’t considered securities.

But cryptocurrencies trade around the clock with only small breaks at brokerage firms for software updates. The crypto market itself is up and running 24/7. So you can always trade whenever you want. That is not the case at J.P. Morgan Chase. Trading is only possible during regular securities market hours.

While securities can be moved in and out of a J.P. Morgan Chase account (and a Webull account), cryptocurrencies cannot be transferred into or out of a Webull account.


Blockchain Funds


If one stock causes you to balk, you could instead try your luck with multiple stocks. J.P. Morgan Chase offers trading in blockchain ETFs, and these will have lower volatility than a single stock.

One blockchain ETF we found inside our J.P. Morgan Chase test account is BLCN, the Nasdaq NexGen Economy Fund. This exchange-traded fund tracks the Reality Shares Nasdaq Blockchain Economy Index. This index is composed of companies that are linked one way or another to blockchain technology.

Some examples of stocks that make up the index and that can be found in BLCN’s portfolio include:

IBM
Alibaba
Baidu
GMO Internet
Square
Digital Garage

J.P. Morgan Chase’s profile for BLCN shows only two stars out of five from Morningstar, although the fund does pay a consistent dividend.


Blockchain Options


If you’re more of a short-term trader, you could skip the funds and stocks and trade derivatives instead. J.P. Morgan Chase offers options trading in calls and puts, although the broker’s software unfortunately doesn’t offer multi-leg strategies.

For Alibaba, we found tens of thousands of contracts with expirations in 2021. Remember that bullish strategies are buying calls and selling puts, while bearish trades are buying puts and selling calls.


How to buy bitcoin on Chase


Grayscale Funds


Grayscale is a fund manager that operates several cryptocurrency funds that trade over-the-counter. The securities include:

Grayscale Bitcoin Trust (symbol: GBTC)
Grayscale Bitcoin Cash Trust (symbol: BCHG)
Grayscale Ethereum Classic Trust (symbol: ETCG)
Grayscale Ethereum Trust (symbol: ETHE)
Grayscale Litecoin Trust (symbol: LTCN)
Grayscale Digital Large Cap Fund (symbol: GDLC)

On J.P. Morgan Chase’s site, we found some of these, although not all. One we did find is the Ethereum Trust. The fund has over $5 billion in assets, which are held offline in cold storage. The annual fee on the fund is 250 basis points.