JPMorgan may launch BTC fund this summer, and Bloomberg calls prerequisites for bitcoin growth

CoinDesk: JPMorgan may launch its own bitcoin fund this summer

JPMorgan, one of the largest U.S. banks, may launch a bitcoin investment fund this summer. This is reported by CoinDesk, citing sources.

The new structure, the media writes, will focus on clients of a financial institution involved in capital management. According to preliminary data, the New York Digital Investment Group platform will become the custodian of the JPMorgan crypto fund.

The source claims that the key difference between the JPMorgan crypto fund will be that the bank itself will be actively managing it. While similar offers, for example from Pantera Capital and Galaxy Digital, allow buying and storing cryptocurrency for the benefit of clients.

Bloomberg Intelligence strategist Mike McGlone names three reasons for the growth of the main coin

Mike McGlone, Bloomberg Intelligence strategist, voiced three reasons for the rise in the price of bitcoin.

“Bitcoin Catalysts to $100,000: Cash Alternative, Tesla, ETFs Bitcoin appears to be the right asset at a unique time in a world rapidly going digital, with catalysts to elevate it to $100,000, in our view,” the analyst wrote on Twitter.

At the end of March this year, McGlone announced that BTC is one of the safest assets. In addition, he announced a forecast according to which the cost of bitcoin could reach $400,000 in 2021.