JP Morgan and US Bank have announced launching services that deal with Bitcoin.
JP Morgan will offer a managed Bitcoin fund, while US Bank is launching its own cryptocurrency custody offering.
JP Morgan’s Bitcoin fund, which would be offered only to the company’s private wealth clients, could be coming as early as the summer of 2021, with New York Digital Investments Group (NYDIG) serving as custodian for the fund.
Meanwhile, US Bank has announced it would offer a cryptocurrency custody product in partnership with a still-unnamed sub-custodian. US Bank also announced that it would be the administrator for the NYDIG Bitcoin ETF, should the proposal be approved by the SEC.
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