Just-In: JP Morgan Set to Offer Bitcoin Fund in Association With NYDIG

JP Morgan, the American Banking behemoth today announced that they would start offering a private Bitcoin fund for their clients starting this summer. As per reports NYDIG, the institutional asset manager would be the custodian of the fund. The said Bitcoin fund would be for private wealth clients.

The banking giant had earlier issued an indirect exposure to bitcoin in March by offering a private fund that tracks the performance of stocks with exposure to Bitcoin such as MicroStrategy and Riot Blockchain. However, the current bitcoin fund would directly trace the price of Bitcoin instead of indirect exposure.

JP Morgan’s decision to start offering Bitcoin funds to its private client marks a complete circle for the banking giant, given it was among the first institution to dismiss BTC as a bubble calling it a speculative asset. Even at the start of this year, the bank had dismissed the idea of offering a Bitcoin tracking fund suggesting the demand wasn’t large enough for them to introduce any such product.

JP Morgan Joins the Long List of Bitcoin Deniers Offering Bitcoin Product in 2021

The 2021 bull season has seen many institutional giants, Wall Street banking giants, and hedge fund managers retreat their early criticism for the top cryptocurrency and start offering Bitcoin-based products amid growing demand. Apart from JP Morgan, Goldman Sachs which once deemed Bitcoin too volatile to be an asset class has added Bitcoin at the top of the best-performing assets.

BlackRock, the world’s largest asset manager which called Bitcoin a money-laundering scheme has also gained exposure in top cryptocurrency via their investment in MicroStrategy and Galaxy Digital. Apart from these banking giants, many payment processing giants such as PayPal, Venmo, and Square have also started offering Bitcoin trading and spending services through their platform.

Recommended
Price Analysis

Best Crypto Presales To Invest In September 2025 – Top Upcoming Presale Tokens

Best Crypto AI Trading Bots In 2025

Top Meme Coins To Buy In September 2025

Prashant Jha

An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.