After yesterday's report that JPMorgan Chase is preparing to launch a Bitcoin fund, investors in cryptocurrencies also learned that Mastercard and Gemini platform joined forces to create a first-of-its-kind cryptocurrency-backed credit card.
Bitcoin advanced 3.18 percent over the last 24 hours, selling for 55,150.50 dollars, while Ethereum moved up by 3.58 percent to sell for 2,579.32 dollars.
JPMorgan Chase is preparing to offer an actively managed bitcoin fund to certain clients, becoming the latest, largest and – if its CEO’s well-documented distaste for bitcoin is any indication – unlikeliest U.S. mega-bank to embrace crypto as an asset class.
The JPMorgan bitcoin fund could roll out as soon as this summer, two sources familiar with the matter told CoinDesk. Institutional bitcoin shop NYDIG will serve as JPMorgan’s custody provider, a third source said.
The news comes after Morgan Stanley became the first big United States bank to roll out bitcoin funds to its wealthiest clients last month.