JPMorgan's Gross Says Crypto About Non-Existent for Institutions – Bloomberg

JPMorgan's Gross Says Crypto About Non-Existent for Institutions – Bloomberg

Blockchain Crypto Market Technology
January 6, 2023 by Coinvasity
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Bloomberg Surveillance with Tom Keene, Jonathan Ferro & Lisa Abramowicz live from New York, bringing insight on global markets and the top business stories of the day.
Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. Hear the latest economic, business and market news, as well as global, national, and local news.
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Money managers who have avoided the many ups and downs of cryptocurrencies may be feeling relieved for having done so, according to a senior investment strategist at JPMorgan Asset Management. 
“As an asset class, crypto is effectively nonexistent for most large institutional investors,” Jared Gross, head of institutional portfolio strategy at the bank, said on this week’s episode of Bloomberg’s “What Goes Up” podcast. “The volatility is too high, the lack of an intrinsic return that you can point to makes it very challenging.”

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