NYDIG to launch three Bitcoin funds for Wells Fargo and JPMorgan clients

Wealthy clients of the leading US banks Wells Fargo and JPMorgan will gain access to Bitcoin through the NYDIG funds launched. Two two applications in the SEC from J.P. Morgan Securities and one — from Wells Fargo Clearing Services.

All three are pooled investment funds.

One of the structures for JPMorgan will be set up on the Cayman Islands with a $100,000 minimum for external investors.

Two others are intended for US residents, with no investment cap specified.

JPMorgan and Wells Fargo will receive placement and servicing fees on client funds. Assets under management at NYDIG reached $11 billion, according to the firm’s website.

Earlier ForkLog reported rumors about a potential collaboration between the asset manager and JPMorgan.

In June, NYDIG and FS Investments filed with the SEC an application to register a Bitcoin fund for clients of Morgan Stanley.

In the same month, the firm entered into an agreement with the technology giant NCR. The deal will give 650 banks in the United States access to cryptocurrencies.

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