- Major financial firms like Merrill Lynch and Wells Fargo now offer bitcoin ETFs.
- Bitcoin ETFs have seen record trading volumes over $7 billion since January approval.
- Increased adoption reinforces crypto’s mainstream momentum, but some firms remain skeptical.
Bitcoin ETFs gain record traction
Major financial institutions like Bank of America’s Merrill Lynch and Wells Fargo are now offering spot bitcoin exchange-traded funds (ETFs) to their wealth management clients.
This signals growing mainstream acceptance of crypto as a legitimate investment alongside stocks and bonds.
Just weeks after US regulators approved several bitcoin ETFs in January, these products have already seen record trading volumes over $7 billion.
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Cryptocurrencies gain mainstream traction
The news coincides with bitcoin’s price rally back toward its all-time high around $69,000. Firms like Morgan Stanley are also conducting due diligence on potential bitcoin ETF offerings.
Still, not everyone is on board. Vanguard stated it has no plans to provide bitcoin ETF access, calling crypto “more speculation than investment.”
But increased adoption by the likes of Merrill and Wells Fargo reinforces the perception of cryptocurrencies as accredited financial assets drawing interest from conventional investors.
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Brokers facilitate Bitcoin ETF access
Rising demand for bitcoin ETFs reflects crypto’s momentum toward the mainstream as major brokers provide easy exposure without directly handling bitcoin.
This should bring heightened visibility and credibility to the space among retail investors in particular. However, skepticism persists from old-guard firms regarding crypto’s stability and place in investment portfolios long-term.
