According to a report by Bloomberg, sources have revealed that the brokerage divisions of Merrill Lynch, a subsidiary of Bank of America, and Wells Fargo are providing channels for wealth management clients with brokerage accounts to invest in Bitcoin spot exchange-traded funds (ETFs). These clients have requested access to such products.
A representative from Wells Fargo confirmed that users have been able to purchase these products through Wells Fargo Advisors or the bank’s online platform, WellsTrade, since the Securities and Exchange Commission (SEC) approved Bitcoin spot ETFs.
Reuters also reported, citing sources, that Merrill Lynch has been offering Bitcoin spot ETFs to clients for several weeks.
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