A US bank's new product, which could be launched this summer, is aimed at customersprivate wealth management divisions.
American bank JPMorgan Chase will open activelya managed bitcoin fund for a limited group of clients, sources told CoinDesk. According to the newspaper, the new product may be presented this summer. The custody of the assets will be held by NYDIG.
The main difference between JPMorgan isthat it will be actively managed by the bank. Whereas the existing offers, including from Pantera Capital and Galaxy Digital, imply only the purchase and storage of cryptocurrency in the interests of customers.
In March, the financial conglomerate filed documents withThe US Securities and Exchange Commission (SEC) on the creation of a new product - a basket of shares of companies associated with cryptocurrency. The instrument will feature securities from MicroStrategy, Square, PayPal, Riot Blockchain, NVIDIA, AMD, TSMC, Intercontinental Exchange, CME Group, Overstock and Silvergate.
Formerly another major American bank, GoldmanSachs announced that it will open up the opportunity to invest in cryptocurrency for its clients in the second quarter of 2021. It was also reported that Morgan Stanley clients will be able to invest in bitcoin funds in April. Only investors with assets worth at least $ 2 million will have access to them.
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