JPMorgan JPM offers an in-house passively managed bitcoin fund to its Private Bank wealth management clients. CoinDesk reported that the sale is being conducted in collaboration with bitcoin powerhouse New York Digital Investment Group (“NYDIG”), citing two sources familiar with the subject.

Stone Ridge’s alternative asset manager, NYDIG, is a business. It offers stable custody, execution, asset management, and other institutional-grade infrastructure.

CoinDesk first reported on the new fund in late April. According to sources, the fund has still to receive any customer investments, and JPMorgan only recently held a launch call with advisers.

According to sources aware of the situation, advisers will pitch the fund to clients as the safest and lowest bitcoin investment instrument available on the private markets. The fund “would also act as an easy port over to a bitcoin exchange-traded fund (ETF).”

JPMorgan’s decision to delve deeper into the world of cryptocurrency is notable because its CEO, Jamie Dimon, has always been anti-crypto.

Dimon has expressed his reservations about digital assets and the cryptocurrency industry. He claimed in May that, “I am not a Bitcoin supporter, I don’t really care about Bitcoin. On the other hand, clients are interested and I don’t tell clients what to do.”

Despite Dimon’s persistent criticism of the cryptocurrency sector, JPMorgan is becoming more open to the cryptocurrency world.

According to Business Insider, the bank provided its wealth management clients access to bitcoin and other cryptocurrency money last month. Through advisors, it has offered its clients access to buy and sell five cryptocurrency products.

JPMorgan’s stock has gained 19% this year, compared to the industry’s 24.5 percent gain.

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