News

BlackRock Spot Bitcoin ETF Now Approved By Cetera To Include In Client Portfolios

Key Points:

  • Cetera Financial Group greenlights four bitcoin ETFs for advisers, signaling a shift towards cryptocurrency investments.
  • Selected ETFs from reputable providers like BlackRock spot Bitcoin ETF prioritize lower fees and proven track records.
  • Educational training for financial professionals on spot bitcoin ETFs begins on March 25, 2024.
Cetera Financial Group, a wealth management firm based in San Diego, has announced the approval of four Bitcoin exchange-traded funds (ETFs) for advisers seeking to integrate these funds into client portfolios,
BlackRock Spot Bitcoin ETF Now Approved By Cetera To Include In Client Portfolios 2

Read more: Best Bitcoin ETFs To Buy In 2024

BlackRock Spot Bitcoin ETF Leads Selection of Approved Funds

The decision reflects a growing trend among asset managers towards embracing cryptocurrency investments.

The approved Bitcoin ETFs include BlackRock spot Bitcoin ETF (IBIT), Fidelity spot Bitcoin ETF (FBTC), Franklin spot Bitcoin ETF (EZBC), and Invesco spot Bitcoin ETF (BTCO). Notably, Cetera has opted for ETFs from established providers with significant assets under management, such as the BlackRock spot Bitcoin ETF.

Matt Fries, Cetera’s head of investment products and partner solutions, emphasized the firm’s commitment to evaluating Bitcoin ETFs and modifying policies accordingly. Cetera’s move underscores the increasing acceptance of cryptocurrency within traditional financial institutions.

However, Cetera has chosen not to approve the Grayscale Bitcoin Trust ETF (GBTC) due to its higher fee structure, which is preferable for ETFs with lower costs for clients. Similarly, access to Ark 21Shares Bitcoin ETF (ARKB) and Bitwise Bitcoin ETF (BITB) has not been granted at this time.

Cetera Initiates Training Program for Advisers on Bitcoin ETF Integration

The decision by Cetera aligns with broader industry expectations, as more wealth managers are anticipated to explore cryptocurrency products in the near future. The selected ETFs offer a combination of proven track records and resources, making them attractive options for Cetera’s advisers and clients.

To support advisers in navigating Bitcoin ETFs, Cetera will provide educational training through its AdviceWorks portal starting March 25, 2024. With approximately $190 billion in assets under management, Cetera’s move reflects a significant development in the evolving landscape of wealth management.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Best Altcoins to Buy Today: Qubetics Rides 1000x Potential to Hit $2.6M, Ethereum Stays Rangebound, Tron USDT Transactions Hit $52B

Discover the best cryptos to buy and hold today: Qubetics leads with 1000x potential, Ethereum…

53 minutes ago

Trump Media Company Is Pushing New Venture For Crypto Service

With the platform facing a cracked whip, Trump Media company is expanding into new business…

2 hours ago

Crypto Advisory Council Now A White House Position Attracting Leaders

Major crypto firms, including Ripple, Kraken, and Circle, are competing for spots on President-elect Donald…

2 hours ago

Analyst Sounds Major Breakout Alert Amid Shiba Inu, WallitIQ, And Dogecoin Price Recoveries

Analysts highlight a breakout alert as Shiba Inu (SHIB), and Dogecoin show signs of recovery…

3 hours ago

SEC Chair Gary Gensler Will Lose Power From January 20

SEC Chair Gary Gensler will step down on January 20, 2025, coinciding with President-elect Donald…

3 hours ago

MicroStrategy Convertible Notes Now Out of Stock With $3B Raised

The MicroStrategy convertible notes offering, initially set at $1.75 billion, was increased to $2.6 billion…

3 hours ago

This website uses cookies.