Spot Bitcoin ETFs Introduced to Portfolios by Bank of America and Wells Fargo

Spot Bitcoin ETFs Introduced to Portfolios by Bank of America and Wells Fargo



Two financial advisors on Wall Street are set to back direct Bitcoin Exchange-Traded Funds (ETFs) almost two months following their introduction on prominent American stock exchanges.



Clients holding brokerage accounts at Bank of America’s Merrill Lynch and Wells Fargo will be permitted to engage in transactions involving direct Bitcoin (BTC) ETFs, following a surge in demand amounting to billions, eight weeks post their market debut. According to Bloomberg, which obtained information from anonymous insiders familiar with the situation, this move marks a significant shift.



Issuers of direct Bitcoin ETFs comprise some of the United States' largest asset management firms, including BlackRock and Fidelity. Nonetheless, initially, traditional banks and brokerage houses hesitated to make these products available to their clientele. N


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