Daniel Masters, ex-husband of JP Morgan’s chief financial officer Blythe Masters, has recently received permits from the Jersey authorities to launch the Global Advisors bitcoin investment fund that trades the digital currency to take advantage of the price differences.
Founded in 1999, the Global Advisors has been specializing on selling and buying commodities, such as oil and precious metals. Before establishing the fund together with his business partner Russell Newton, a 51-year-old Masters had been trading commodities for more than a decade. He worked at Shell international trading company, served as a trader at Phibro energy and managed energy business at JPMorgan.
In March, his former wife was named as chief executive officer of Digital Asset Holdings LLC, a bitcoin startup for trading financial assets using the blockchain technology. Last month, the company bought ledger platform Hyperledger and blockchain software firm Bits of Proof to become a distributed ledger provider.
The authorities have a lot of concerns regarding the use of digital currency for criminal purposes. Last May, the Securities and Exchange Commission warned investors about the risks of frauds in the bitcoin sector. There are a number of funds in the US that still need to obtain approvals.