Media: JPMorgan to launch bitcoin fund

JPMorgan Chase will offer select clients access to bitcoin via a dedicated bitcoin fund. CoinDesk, citing informed sources, reports.

The instrument is slated to launch in the summer of 2021. One source said custody of the assets would be entrusted to the New York Digital Investment Group platform.

The JPMorgan-managed fund is aimed at clients of the private wealth management division, sources say.

In February 2021, JPMorgan Chase said it was prepared to add support for bitcoin if there is demand.

In March, the group announced the launch of a basket of shares of cryptocurrency-related companies. There was also interest in bitcoin from institutional investors.

In April, JPMorgan Chase CEO Jamie Dimon urged to tighten regulation of digital assets.

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