Wells Fargo To Offer Cryptocurrency Product


Wells Fargo is apparently preparing to embrace bitcoin and other cryptocurrencies, as Darrell Cronk, the president of the bank’s investment institute, told Business Insider that a research division is “planning to evaluate and onboard an actively managed cryptocurrency strategy to its platform for qualified investors.”

He noted that efforts to deploy such a product have been in the works for months and is likely to launch in the middle of next month.

While the product would apparently offer exposure to many cryptocurrencies, Cronk highlighted the decreasing supply dynamics of a deflationary asset like bitcoin in particular as a reason his team is interested in offering it.

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