JPMorgan Chase has begun offering its clients a passively managed bitcoin fund, according to CoinDesk.
According to sources of the publication, consultantsonly yesterday they prepared for the launch of a new product, so it has not yet attracted investment. Since the fund is not directly related to cryptocurrency, it is presented as the safest and cheapest investment tool. However, it will only be available to private clients of the bank.
The new fund's successful clearance with the SEC potentially clears the way for JPMorgan to launch the first U.S. Bitcoin ETF.
Recently clientsbanks were also able to access bitcoin funds of other companies through a personal brokerage account.
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