Two Wall Street wealth management giants, Bank of America’s Merrill Lynch and Wells Fargo are adding spot bitcoin exchange-traded funds to their brokerage platforms, Bloomberg reported, citing people familiar with the matter.
Ever since the launch of the 10 ETFs in January, industry participants have been wondering when major U.S. brokerages would start offering the funds to their clients, which could potentially bring much more buying power to the market for bitcoin ETFs. The Bloomberg story follows a CoinDesk scoop Wednesday that Morgan Stanley, another titan in the space, is in the midst of deciding whether to give clients the option to invest in the funds.
In January, CoinDesk reported first that UBS and Citigroup were letting some customers buy bitcoin ETFs. Merrill Lynch and Wells Fargo have been offering the bitcoin ETFs to clients who specifically asked to get exposure to it, Bloomberg reported. Even without the participation of players of this caliber, the ETFs have seen tremendous demand since they began trading on Jan. 11. On Wednesday alone, a record $7.7 billion worth of all the funds traded.
The Federal Reserve has unveiled a new proposed rule that would require certain payment stablecoin issuers to…
Shares of HIVE Digital Technologies jumped more than 10% after the company announced a major $220 million, three-year…
Illinois has officially become the first U.S. state to impose a transaction-based tax on cryptocy activity…
The cryptocy market was hit by a sharp wave of volatility after the Federal Open Market…
Algorand is accelerating its push toward becoming one of the world's first fully quantum-resistant blockchains, announcing…
The long-awaited Digital Asset Market CLARITY Act is moving closer to becoming law as momentum continues building…