Leading U.S. investment platforms Meryll Lynch and Wells Fargo are now offering clients access to Bitcoin spot ETFs despite initially hesitating on the move.
As reported by Bloomberg, the firms are offering the ETFs to certain wealth management clients who specifically request the product, which allows clients to directly invest in BTC through an ETF wrapper.
Merrill Lynch Embraces Bitcoin
Last month, Merrill Lynch, the investment management division of Bank of America, was one of U.S. financial giants to receive major rebuke for its initial refusal to allow customer access to the ETFs after their historic launch last month.
At the time, Fox Business reported that Merrill Lynch was waiting to see whether the ETFs could trade efficiently before changing their internal policy, which did not allow for such products.
By all measures, the ETFs have had a massively successful launch. Since approval, shares for funds like the Grayscale Bitcoin Trust (GBTC) now trade at perfect parity with the
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