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JPMorgan Chase & Co. is preparing to offer a Bitcoin fund to wealthy clients, the latest sign that Wall Street is warming to the largest cryptocurrency after it soared in recent months.
The actively managed fund will be available as soon as this summer, CoinDesk reported Monday, citing sources familiar with the plans. NYDIG will be the custody provider, a person with knowledge of the situation said, asking not to be identified because the decision hasn’t been made public.
Spokespeople for JPMorgan and NYDIG declined to comment.
Bitcoin rose as much as 12%