JP Morgan Exchange Traded Fund Specialist Talks Bitcoin ETF’s Last Mover Advantage


Bitcoin ETF’s Last Mover Advantage

In a recent Bloomberg interview with Bryson Lake, JP Morgan’s Asset Management Head of International ETFs, he discussed, as a part of a panel, how the company believes in the last mover advantage concerning the cryptocurrency market and ETFs. Lake stated:

“We certainly do not believe that we have missed the ETF boat by a long shot. In our opinion, the last mover advantage is the best. Take the example of Netscape, they launched well before Google but look where they are right now.”

Lake continued that the company has been giving a great deal of thought to strategies concerning how it can differentiate assets over the long term. The discussion also informed users that the entity was 19th in terms of cryptocurrency assets and 5th in market flow, amounting to 8.7 billion.

JP Morgan appear in the news recently when it announced that over 70 banks partnered with it as a part of an interbank blockchain project. The platform is called “The Interbank Information Network.” (IIN)

JP Morgan started the project in October 2017 to overcome cross-border payment delays in existing system. It also partnered with two other banks – the Royal Bank of Canada and Austarlia and New Zealand Banking Group (ANZ) and the trial project ran for 11 months.

Lake also stated that the product range and development sphere must be competitive in the cryptocurrency industry and that since the market settled, investors have been responding positively. Even institutional investors have taken an interest.

As for the Bitcoin ETF, which has been making an impact on the cryptocurrency industry, it was discussed in regard to the SEC. The SEC is overseeing a rule change proposal by Choe BZX Exchange, Inc. The rule change, if permitted, will enable GraniteShares Bitcoin ETF to trade.

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