JPMorgan Chase has been privately offering access to six crypto funds for over three weeks.
The bank’s private clients are now able to access a new Bitcoin fund created by New York Digital Investment Group (NYDIG), a crypto investment firm owned by Stone Ridge Asset Management. The Stone Ridge Bitcoin Strategy Fund gives the clients exposure to Bitcoin via futures market.
The NYDIG fund is an addition to the five crypto funds that were made available last month, which include Bitcoin Cash Trust, Grayscale Investments’ Grayscale Bitcoin Trust, Ethereum Trust and Ethereum Classic Trust and finally, the Osprey Bitcoin Trust.
The bank is reportedly taking careful steps when it comes to offering its new digital-asset services. It appears that JPMorgan advisors are prohibited from openly promoting the crypto funds, and can only carry out the transactions when asked by the client.
Anyone who uses JPMorgan Chase’s wealth management platforms — including the Chase trading app — can access the Grayscale and Osprey Funds. However, the NYDIG fund is exclusive to private banking clients only.
