JPMorgan Chase (JPM) will offer an actively managed bitcoin (BTC-USD) fund to its clients later in 2021, CoinDesk reported on April 26. The move is a significant change from previous statements by CEO Jamie Dimon on the matter.
Dimon called bitcoin a dangerous fraud in 2017, threatening to “fire in a second” any trader who touches the digital currency. “If you’re stupid enough to buy it, you’ll pay the price for it one day,” he said at the time.
While he walked back the “fraud” label, Dimon maintained late in 2020 that bitcoin is “not my cup of tea”. He has repeatedly argued that the government regulation of cryptocurrencies is inevitable.
According to CoinDesk, JPMorgan will offer the fund to clients in the bank’s private wealth division. This follows a move earl…