Bank of America Corp.’s Merrill Lynch and Wells Fargo & Co.’s brokerage unit have begun offering access to exchange-traded funds (ETFs) that directly invest in Bitcoin, according to Bloomberg Law.
Wells Fargo Merrill and Bank of America Merrill offer spot #Bitcoin Wealth clients can invest in ETFs🚀 pic.twitter.com/Lr3oD5XgrR
— Bitcoin Magazine (@BitcoinMagazine) February 29, 2024
These banks’ move reflects a growing interest by investors to gain exposure to Bitcoin. Merrill Lynch, Wells Fargo and other banks offer access to Bitcoin ETFs for select clients of wealth management with brokerage accounts.
This comes after the US spot Bitcoin ETFs experienced a record-breaking week, with BlackRock’s BlackRock ETF seeing inflows of $612 million yesterday. Merrill Lynch, Wells Fargo and other financial institutions have decided to offer Bitcoin ETFs in response to the demand from their wealthy clients.
These banks cater to their customers’ evolving investment preferences by offering Bitcoin ETFs. Their clients are looking to diversify and maximize their portfolios while also taking advantage of the potential growth of Bitcoin. Bitcoin exposure is now available through mainstream banks. financial The inclusion of traditional financial institutions such as Merrill Lynch and Wells Fargo in the Bitcoin marketplace is a further validation.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
Source: bitcoinmagazine.com