Not much time has passed since the announcement that JPMorgan's wealthy clients now have access to a passive Bitcoin fund, and today we are witnessing another recognized American financial institution, which is also betting on Bitcoin.
Wells Fargo was supposed to register its private Bitcoin fund on Thursday, as confirmed by the daily Coindesk, which referred to a source familiar with the matter.
After reviewing the documents, Wells Fargo followed JPMorgan's steps and selected NYDIG as a partner to secure and thoroughly manage the new fund. Wells Fargo is also working with FS Investments to offer Bitcoin investments.
Wells Fargo had total assets of $ 1,955 trillion, an operating income of $ 581 million and a number of employees up to 268,531 in 2020.