On Thursday, 19th, Wells Fargo registered a private bitcoin fund with US regulators, becoming yet another banking giant to offer a cryptocurrency investment vehicle to its high-income customers.
- A source said the new fund is passive, contradicting earlier reports that Wells Fargo would look for high-income investors with active management offerings.
- NYDIG and FS Investments have partnered with Wells Fargo for the offering, according to regulatory documents; the two have worked together on bitcoin funds before. Wells Fargo will receive a portion of the sales through two subsidiaries.
- The new fund, FS NYDIG Bitcoin I and LP had no sales until Thursday 19th.
- JPMorgan has also filed a request with the US Securities and Exchange Commission (SEC) on Thursday 19 for its passive bitcoin fund, which is also a partnership with NYDIG.
- Wells Fargo did not comment on the case.
- Invest in bitcoin with the support of advisors from the largest investment bank in Latin America
Text translated and republished with the permission of Coindesk
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