JP Morgan plans Bitcoin active fund
JPMorgan Chase, the largest US bank, is planning to offer an active Bitcoin fund to wealthy clients. It may start as early as this summer. I learned from interviews with multiple parties.
According to one of the people concerned, NYDIG, a fintech company in the field of crypto assets, will be in charge of custody (management and storage) of crypto assets held through the fund. According to people familiar with the matter, JP Morgan is planning an active fund for Bitcoin, which is different from passive funds operated by Pantera Capital and Galaxy Digital.
In general, for active funds, managers determine the stocks and proportions that the fund invests in. For investment trusts that invest in stocks and bonds, benchmarks are set, and in many cases, investment performance that exceeds the benchmarks is aimed at.
US CoinDesk tried to interview JP Morgan’s Public Relations Department, but did not get any comments.