Bitcoin has rallied to above $53,000 today with investors taking of its low price to pile back in.
The cryptocurrency rose as much as 12pc this afternoon in its biggest intraday gain since early February.
The move comes as JPMorgan Chase & Co. is preparing to introduce an actively managed Bitcoin fund to some clients as soon as this summer, Coindesk reported, citing unidentified people familiar with the matter.
The rebound reverses a two-week slump that had pushed Bitcoin below its 100-day moving average amid technical warnings from Wall Street and fears of a growing crypto bubble.