The new fund that could be launched this summer will serve clients with private capital
American bank JPMorgan Chase will set up an actively managed bitcoin fund for a limited number of its clients, reports CoinDesk. According to available information, the new financial offering could be ready as early as this summer.NYDIG will be handling the crypto custody aspect.
A major difference of the JPMorgan fund will be its active management approach. At the moment, more passive services, offered by Pantera Capital and Galaxy Digital, include only purchasing and storing cryptocurrency on clients’ behalf.
In March, the financial giant filed an application with the SEC to launch a new financial product – the cryptocurrency basket, representing stocks of large companies, like MicroStrategy, Square, PayPal, Riot Blockchain, NVIDIA, AMD, TSMC, Intercontinental Exchange, CME Group, Overstock and Silvergate.
