The offering will help investment managers store private keys for bitcoin, bitcoin cash and litecoin with assistance from sub-custodian NYDIG, according to Gunjan Kedia, vice chair of the bank’s wealth management and investment services division. Support for other coins like ethereum is expected over time, Kedia said.
“Our clients are getting very serious about the potential of cryptocurrency as a diversified asset class,” Kedia said in an interview. “I don’t believe there’s a single asset manager that isn’t thinking about it right now.”