With bitcoin dropping more than $1,000 in overnight trading and more positive comments from the head of the world's largest hedge fund, CoinDesk's Market's Daily is back with another crypto news roundup.

This episode is sponsored by Crypto.com, Nexo.io and this week’s special product launch LVL.co.

Stories:

First Mover: Why Wells Fargo Won't Recommend Bitcoin to Clients

A Wells Fargo unit doesn't recommend bitcoin to clients, since they can't yet hold cryptocurrency in their accounts. What if that ever changed?   

Bridgewater's Ray Dalio Softens Stance on Bitcoin, Says It Has Place in Investors' Portfolios

The founder of the world's largest hedge fund says bitcoin can for part of a diversified portfolio, though he may still prefer gold.

Bitwise's Crypto Index Fund Becomes Available To US Investors

Bitwise has launched the first crypto index fund available to investors in the U.S.

Citi Analyst Chides Saylor's Bitcoin Focus, Cuts MicroStrategy to 'Sell'

MicroStrategy was trading sharply lower Tuesday after a Citi analyst changed his rating to "sell."