According to recent reports, prominent USA banking institutions, Bank of America’s Merrill Lynch, and Wells Fargo are now allowing spot Bitcoin ETFs to their suitable wealth management clients in exchange.
“Spot bitcoin ETFs are available for unsolicited purchases through an advisor with Wells Fargo Advisors or through our online WellsTrade platform,” Wells Fargo confirmed Thursday.
Spot Bitcoin ETFs offer investors the opportunity to access Bitcoin by not holding the cryptocurrency directly. Now more and more investors are pouring into the resource through funding the asset class, which was after such a price bubble to $60,000.
The move represents a surge in Bitcoin popularity, with many analysts foreseeing even a higher price of $150,000 in eighteen months.
Notwithstanding, the reluctance of various financial institutions to align their platforms with Bitcoin ETFs is also noticeable as a major mutual fund provider, Vanguard, has not yet introduced spot Bitcoin ETFs.
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