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The Largest Banks in the US Have Given the Green Light for Bitcoin Investment! - Coin Newsletter
Bank of America (BofA) and Wells Fargo, established banks in the United States with $5 trillion under management, have given the green light to spot Bitcoin ETFs.
According to Bloomberg's report, which cites sources close to the matter, Bank of America's Merrill Lynch and Wells Fargo have started offering spot Bitcoin exchange-traded funds (ETFs) to their customers. Spot Bitcoin ETFs are initially offered only to some asset management clients with brokerage accounts.
Making a statement on the subject, the Wells Fargo front made the following statements:
At the beginning of January, the U.S. Securities and Exchange Commission (SEC) approved 11 spot Bitcoin ETFs, paving the way for giant institutional companies to be active in this space.
The anticipation and subsequent approval of the spot Bitcoin ETF has been one of the main fuels of my rise in the cryptocurrency market in recent months.