JPMorgan may offer actively managed bitcoin fund: report

Banking giant JPMorgan Chase is preparing to offer its private wealth clients an actively managed bitcoin fund, Coindesk reported on Monday, citing sources. That fund could be ready by summer, with the bank enlisting NYDIG, an institutional technology and financial services firm dedicated to bitcoin , to act as custody provider, the report said. The report comes as bitcoin rebounded on Monday from last week’s losses, with the price climbing above $53,000. A spokesman for JPMorgan could not immediately be reached for comment.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.