Report: JPMorgan Chase Creating Bitcoin Fund
In yet another acknowledgement by Big Finance that cryptocurrencies are here to stay, JPMorgan Chase (NYSE: JPM) is apparently forming a Bitcoin (CRYPTO: BTC) fund that it will offer to high net-worth individuals. According to an article published Monday by the website CoinDesk citing "two sources familiar with the matter," the fund will debut as soon as this summer.
The fund, whose name is not yet known, will be actively managed -- a departure from the standard passive-investment Bitcoin fund. Cryptocurrency specialist NYDIG will provide custodial services for the fund; that company already manages a Bitcoin fund for clients of Morgan Stanley.
JPMorgan Chase has not yet commented on the CoinDesk report.
Source Fool.com
