Bitcoin Gains Footing Above $45K as Wells Fargo Launches Fund for Wealthy Clients

Bitcoin, the largest cryptocurrency by market cap, has pared recent losses, spiking to an intraday high of $45,950 on the Bitstamp exchange.

The crypto king has successfully held the pivotal $44,000 support level before staging the minor comeback.

The ongoing recovery coincided with U.S. banking giant Wells Fargo registering a passive Bitcoin fund for wealthy clients, according to its Aug. 19 filing with the U.S. Securities and Exchange Commission.

It inked a partnership with NYDIG and FS Investments to launch the new cryptocurrency investment vehicle.

As reported by U.Today, Wells Fargo initially revealed that it was going to introduce a cryptocurrency strategy for its affluent clients back in May.

In late July, JPMorgan, the largest American bank, opened access to various cryptocurrency funds for its retail clients.