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Last week, 13 Republican state attorneys general asked federal energy officials to consider blocking the world's second-largest fund manager from buying utility stocks because of its relationship with the Net Zero Asset Managers coalition.
CEO Jamie Dimon famously called bitcoin a 'fraud' in 2017, though he's repeatedly said he sees many ways the bank could use blockchain technology.
Funds join a handful of institutions to invest in the crypto world, including Yale University.
CEO Abigail Johnson is betting the business, dubbed Fidelity Digital Assets, will appeal to Wall Street.