Wealth Management Firm Cetera Adds Several Spot Bitcoin ETF for Trading Cetera, a wealth management company, has introduced multiple Bitcoin ETFs for trading.
The recent policy change permits brokerage accounts to invest in spot Bitcoin exchange-traded funds (ETFs). Cetera acknowledged that contemporary investors have more sophisticated needs. Several spot Bitcoin ETFs that were approved by the SEC in January have received a significant boost due to trading support from Cetera, a wealth management company. Cetera announced the update on Thursday, enabling brokerage accounts to invest in spot Bitcoin ETFs. Four Bitcoin exchange-traded funds (ETFs) have been approved: BTCO by Invesco, EZBC by Franklin, FBTC by Fidelity Wise Origin, and IBIT by Blackrock. Financial professionals associated with these funds will receive access to educational opportunities and additional resources as part of the plan. By utilizing these resources, these professionals can offer more effective guidance to clients on integrating spot Bitcoin ETFs into their investment plans. The growing curiosity of institutional investors in the developing spot Bitcoin ETF market was the driving force behind the need for this addition. The wealth management organization predicts that nearly 50 million people will have Bitcoin by February 2024. The high level of trading activity in the spot Bitcoin ETF market since its inception is evident in the sheer volume of trades. Currently, the daily trading volume in the spot Bitcoin ETF market has exceeded $6 billion. The increasing value of Bitcoin is leading to higher figures, with Cetera acknowledging that today’s investors have more complex needs and assuring that their investment team is ready to meet those needs. Cetera has taken steps to create guidelines for the spot Bitcoin ETF market, making it one of the rare asset management firms to do so. Recent news in the crypto world emphasizes this. Bybit, a cryptocurrency exchange, has been added to the warning list by the Hong Kong Securities and Futures Commission.