Is JP Morgan’s private bank offering a bitcoin fund?

JPMorgan JPM is offering its Private Bank wealth management customers access to an in-house passively managed bitcoin fund. Citing two people familiar with the matter, CoinDesk said that the offering is being made in partnership with bitcoin powerhouse New York Digital Investment Group (“NYDIG”).

Is the crypto market on the rise for JPMorgan?

The expanded access to crypto products for JPMorgan clients comes as retail interest in the crypto market is on the rise, especially after bitcoin hit its all-time-high price of $65,654 on April 14, 2021.

What crypto products does JPMorgan’s Wealth Management Division offer?

Advisors in JPMorgan’s $630 billion wealth management division can now accept orders to buy and sell five crypto products including Grayscale’s Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust, Ethereum Classic products, and Osprey Funds’ Bitcoin Trust.

Is JPMorgan’s Jamie Dimon skeptical about bitcoin?

The sources declined to be identified speaking about the offerings, each citing an awkward fact: JPMorgan CEO Jamie Dimon has been one of Wall Street’s most outspoken skeptics of bitcoin and related digital assets.