Cetera Financial Group unveils policy to allow Bitcoin ETF exposure for RIAs, brokers

Cetera Financial Group has introduced a new initiative aimed at supporting financial advisors in integrating spot Bitcoin ETFs into investment strategies.

The policy, unveiled on March 14 press releasemarks a crucial step in meeting growing investor interest in investment options involving Bitcoin.

Cetera has an impressive roster of over 12,000 financial advisors and approximately $475 billion in assets under management, making it one of the largest wealth management services in the US.

The new policy positions the company among early adopters in the asset management industry to provide structured guidance on Bitcoin ETFs in response to growing investor interest in these financial products.

Four ETFs

The policy specifically greenlights four spot Bitcoin ETFs for intra-company use: Invesco Galaxy Bitcoin ETF (BTCO), Franklin Bitcoin ETF (EZBC), Fidelity Wise Origin Bitcoin Fund (FBTC) and Blackrock iShares Bitcoin Trust (IBIT).

Cetera said each of these funds is backed by ETF providers known for their strategic product offerings and extensive resources, ensuring their financial advisors benefit from a robust framework.

The new program is designed to provide financial advisors with the educational resources, training and tools needed to advise clients on Bitcoin ETF investments.

Matt Fries, who oversees investment products and partner solutions at Cetera, said the company’s approach to Bitcoin ETFs involves careful consideration and support of financial advisors to meet the changing needs of investors.

The company also announced plans to launch specialized training sessions for its financial professionals through its award-winning AdviceWorks portal from March 25.

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The educational initiative is part of Cetera’s broader strategy to ensure its advisors are well prepared to guide their clients through the nuances of investing in Bitcoin ETFs, further cementing the firm’s position as a forward-thinking leader in the asset management industry strengthens.

The growing interest of TradFi

Cetera’s decision to formalize a Bitcoin ETF policy reflects a strategic response to increasing investor interest in crypto-related investment vehicles.

The sentiment is starting to permeate the entire traditional financial sector, with Wall Street giants like Bank of America and Wells Fargo recently announcing that they will allow customers to invest in Bitcoin ETFs.

Meanwhile, Bitwise recently revealed that it and other ETF issuers are in the midst of serious due diligence discussions with major financial institutions interested in Bitcoin. The company added that these entities are expected to start purchasing Bitcoin through ETFs starting in the second quarter.

The ETFs have posted record performance since their launch in January and collectively have nearly $60 billion in assets under management as of March 14.

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