{"id":16863,"date":"2021-04-26T17:53:04","date_gmt":"2021-04-26T17:53:04","guid":{"rendered":"http:\/\/ci02819ad320002568"},"modified":"2021-04-26T17:53:04","modified_gmt":"2021-04-26T17:53:04","slug":"report-jpmorgan-to-offer-bitcoin-fund","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/markets\/report-jpmorgan-to-offer-bitcoin-fund","title":{"rendered":"JPMorgan Reportedly Planning To Offer A Bitcoin Fund"},"content":{"rendered":"
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JPMorgan Chase & Co. is preparing to allow its clients to invest in an \u201cactively-managed\u201d bitcoin fund, according to CoinDesk<\/em><\/a>.<\/p>\n

\u201cThe JPMorgan bitcoin funding could roll out as soon as this summer,\u201d per the report. \u201cInstitutional bitcoin shop NYDIG will serve as JPMorgan\u2019s custody provider.\u201d <\/p>\n

This fund would reportedly only be available to private wealth clients.<\/p>\n

If and when such a fund does become available, JPMorgan would be joining a growing number of legacy financial firms that want to offer bitcoin exposure to clients. Goldman Sachs announced a similar move in March<\/a>, while Morgan Stanely announced one earlier this month<\/a>. <\/p>\n

But JPMorgan\u2019s potential pivot to bitcoin is particularly notable, due to the chief\u2019s previously-expressed attitude toward the emerging asset. During an institutional investors conference in 2017, JPMorgan CEO Jamie Dimon infamously called bitcoin<\/a> \u201cworse than tulip bulbs,\u201d saying that, \u201cIt won\u2019t end well. Someone is going to get killed.\u201d<\/p>\n

However, in a February 2021 interview with Bloomberg<\/a>, JPMorgan co-president Daniel Pinto sounded optimistic about Bitcoin.<\/p>\n

\u201cIf over time an asset class develops that is going to be used by different asset managers and investors, we will have to be involved,\u201d Pinto said. \u201cThe demand isn\u2019t there yet, but I\u2019m sure it will be at some point.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

A news report indicates that JPMorgan will soon offer an \u201cactively-managed\u201d bitcoin fund to clients.<\/p>\n","protected":false},"author":3281,"featured_media":1749,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[673],"class_list":{"0":"post-16863","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-jpmorgan"},"author_data":{"id":3281,"name":"Ahyke Otutubuike","nicename":"ahyke-otutubuike","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/ahyke-otutubuike-promo-image-96x96.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/bitcoin-etf-delayed-but-wall-street-has-on-ramps.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/16863","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3281"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=16863"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/16863\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/1749"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=16863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=16863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=16863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}