Wells Fargo And JPMorgan Both File For Passive Bitcoin Funds

Wells Fargo And JPMorgan Both File For Passive Bitcoin Funds



Today, banking giants Wells Fargo and JPMorgan both filed for passive Bitcoin funds for their wealthy clients, Coindesk reported.

Though initially anticipated to be actively managed, both funds were registered as passive. Notably, both banks are partnering with NYDIG on the offerings. The new funds had no sales as of today.

The news comes after earlier this month, when it was reported that high-net-worth clients of Wells Fargo were granted Bitcoin exposure.

While in July, JPMorgan Asset & Wealth Management CEO Mary Callahan Erdoes said the banking giant’s wealthy clients see Bitcoin as an asset class and “want to invest.”



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