Wells Fargo has filed an application with the SEC to launch an investment fund in BTC – Bits Media

Wells Fargo Bank applied to the SEC to register a passive fund in BTC and provided wealthy clients with tools for indirect investing in bitcoin.

In May it became known, that Wells Fargo Investment Institute plans to implement an actively managed strategy investing in bitcoin and crypto funds for their qualified investors. The bank's asset and investment management division at that time controlled assets in the amount of about $2 trillion

It was still unclear then, exactly how Wells Fargo is going to provide high-net-worth clients with access to bitcoins - through direct purchase or indirect investment, eg, through the services of third parties, таких как Grayscale Bitcoin Trust.

Yesterday, 19 August, a few months after the decision was made, Wells Fargo filed documents with the US Securities and Exchange Commission (SEC), to register a special fund in BTC.

A feature of Wells Fargo's investment strategy and the new fund is long-term passive investments, implying following the selected stock indices. Wells Fargo partnered with FS Investments and New York Digital Investment Group to implement this initiative..

Other major US banks, like BNY Mellon, Morgan Stanley, JPMorgan Chase & Co и Goldman Sachs, have already launched or are planning to launch various services, related to cryptocurrencies.