Foreign media quoted sources on Thursday as saying that JPMorgan ChaseWill allow all its wealth management clients to buy and sell cryptocurrency funds. Earlier this week, JPMorgan Chase told its financial advisers in a memo that it would accept orders from its wealth management clients to buy and sell five cryptocurrency products from July 19. Four of these products are from Grayscale Investments and one from Osprey Funds, the report said.

JPMorgan's wealth management advisers were only allowed to carry out "proactive" cryptocurrency transactions, the report said, adding that advisers could not recommend products and could only buy and sell on behalf of clients at their request.