Summary
Merrill and Wells Fargo are now offering access to Bitcoin spot ETFs to their wealth management clients. The nine Bitcoin spot ETFs in the US have grown to hold over $17 billion in assets since approval by the SEC, with major inflows from investors. Analysts are investigating where the money is coming from, with speculation that retail investors are jumping in. Other brokerage firms may feel pressure to offer Bitcoin spot ETFs due to high demand.
Key Points
1. Merrill and Wells Fargo are now offering access to Bitcoin spot ETFs to their wealth management clients with brokerage accounts.
2. The U.S. Bitcoin spot ETFs have accumulated over $17 billion in assets since being approved by the SEC, in addition to Grayscale’s Bitcoin Trust holding another $25 billion in BTC.
3. Analysts are monitoring the influx of money into Bitcoin spot ETFs to determine if retail investors are actively participating, with major brokerage firms like Merrill and Wells Fargo beginning to provide access to these investment vehicles.