Wells
Fargo filed a private bitcoin fund with US regulators on Thursday, making it
the latest megabank to offer an indirect crypto investment vehicle to its
wealthiest customers.
•
According to a source familiar with the situation, the new fund will be
passive, a departure from previous claims that Wells Fargo will market wealthy
investors an actively managed offering.
•
According to regulatory records, NYDIG and FS Investments are cooperating with
Wells Fargo on the sale; the two have previously collaborated on bitcoin funds.
Through two companies, Wells Fargo receives a percentage of sales.
•
As of Thursday, no sales had been made in the new FS NYDIG Bitcoin Fund I, LP.
•
JPMorgan also registered its passive bitcoin fund with the Securities and
Exchange Commission on Thursday. It's also a partnership with NYDIG.
• Wells Fargo did not immediately respond for comment.
0 Comments