Summary
TLDR: Billions have been invested in bitcoin products, but the floodgates may not open until major investment firms like Merrill Lynch and Morgan Stanley offer bitcoin ETFs.
Key Points
1. The investment floodgates for bitcoin ETFs may not fully open until they are offered by major registered investment advisor networks and broker-dealers like Merrill Lynch, Morgan Stanley, and Wells Fargo.
2. Despite billions of dollars already being invested in these products, there is still a significant potential for growth and increased investment once bitcoin ETFs become more widely available through established financial platforms.
3. The involvement of big players in the financial industry, such as major RIAs and broker-dealers, could bring a new level of legitimacy and acceptance to bitcoin ETFs, potentially attracting even more investors and capital into the market.