Wells Fargo: US bank set to offer crypto fund to rich clients

Sun Online Desk

20th May, 2021 02:50:04 PM printer

Wells Fargo: US bank set to offer crypto fund to rich clients

Another big US bank is set to introduce a crypto-currency fund, despite the recent fall in value of Bitcoin.

Wells Fargo said on Wednesday it would introduce professionally managed funds for its more wealthy clients.

In a report, its investment institute said the risks associated with digital currencies meant it would favour "qualified investors".

It came as the price of Bitcoin fell after China said it was imposing fresh curbs on cryptocurrency.

It took the value of the digital coin below $34,000 (£24,030) for the first time in three months on Wednesday, spurring a sell-off of other digital currencies including Ethereum and Dogecoin.

(BBC)

 


Top