After JP Morgan, Wells Fargo is the second major bank to offer a passive Bitcoin fund.
According to the daily Coindesk, which cited a source familiar with the subject, Wells Fargo was due to register its private Bitcoin fund on Thursday.
Following JPMorgan’s lead, Wells Fargo chose NYDIG as a partner to secure and thoroughly administer the new fund after studying the paperwork. In addition, Wells Fargo has partnered with FS Investments to offer Bitcoin investments.
In 2020, Wells Fargo had total assets of $ 1,955 trillion, an operating income of $ 581 million, and 268,531 employees.