JPMorgan to Let Clients Invest in Bitcoin Fund for First Time
Oh how it is funny how times change – honestly, I don’t think Dimon ever actually was a Bitcoin hater, he simply didn’t want us regular folks to know. It is laughable anyone would pay someone to “manage” their crypto but then again, most people are fools. Oh well, this is good for Bitcoin as a whole as it increases and builds on the thought that if JPMorgan beleives in it, it must be good to the average pleb who needs to be told how to think.
JPMorgan to Let Clients Invest in Bitcoin Fund for First Time: Sources
“JPMorgan Chase is preparing to offer an actively managed bitcoin (BTC, +5.82%) fund to certain clients, becoming the latest, largest and – if its CEO’s well-documented distaste for bitcoin is any indication – unlikeliest U.S. mega-bank to embrace crypto as an asset class.
The JPMorgan bitcoin fund could roll out as soon as this summer, two sources familiar with the matter told CoinDesk. Institutional bitcoin shop NYDIG will serve as JPMorgan’s custody provider, a third source said.
JPMorgan’s bitcoin fund will be actively managed, multiple sources told CoinDesk. That’s a notable break from the passive fare offered by crypto industry stalwarts like Pantera Capital and Galaxy Digital, which let well-heeled clients buy and hold bitcoin through funds without ever touching it themselves.”