Fun

Wealth manager Cetera adds spot BTC ETFs to it platform, with training

News Feed - 2024-03-16 01:03:53

Derek Andersen7 hours agoWealth manager Cetera adds spot BTC ETFs to it platform, with trainingThe large wealth management firm chose four Bitcoin ETFs for its professionals to offer to their clients.3041 Total views7 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksWealth manager Cetera has approved four spot Bitcoin (BTC) exchange-traded funds (ETFs), which its managers can now offer to their clients. Cetera has over $190 billion in assets under management.


Cetera selected the Invesco Galaxy Bitcoin ETF (BTCO), Franklin Bitcoin ETF (EZBC), Fidelity Wise Origin Bitcoin Fund (FBTC) and Blackrock iShares Bitcoin Trust (IBIT) for its platform. Those ETF providers “track records of successfully launching new product strategies,” according to a statement. Matt Fries, Cetera"s head of investment products and partner solutions, said in the statement:"As expected, we are prudently embracing bitcoin ETFs and we prioritized developing this important guidance to help our financial professionals implement these products in client portfolios."


Cetera will begin offering its 12,000 affiliated financial professionals training on the spot BTC ETFs on March 25.


Related: Bitcoin overtakes gold in investor portfolio allocation — JPMorgan


According to The Wall Street Journal, Cetera will make the BTC ETFs available only to commission-based accounts, with limits on investments based on clients’ taste for risk.


The United States Securities and Exchange Commission (SEC) approved 11 spot BTC ETFs on Jan. 10. The newly available financial products and the return to a bull market have resulted in enormous cash inflows into BTC, and that flow is expected to continue, even with minor corrections in the BTC market, as institutional and corporate interest grow.Source: @NateGeraci on X


Cetera is not the first wealth manager to take the plunge into spot BTC ETFs. Bloomberg reported in February that Charles Schwab and Robinhood Markets began offering the products as soon as they were available, and UBS offered them on a more limited basis. Bank of America’s Merrill and Wells Fargo’s brokerage unit were offering their wealth management clients on request.


Meanwhile, political opposition to spot BTC ETFs is emerging in the United States. On March 11, two Democratic senator wrote to SEC chair Gary Gensler to urge him not to approve any more spot BTC ETFs.


According to Cetera, 50 million people owned Bitcoin in February, up by 20 million from a year ago.


Magazine: ‘Crypto is inevitable’ so we went ‘all in’: Meet Vance Spencer, permabull# Bitcoin# Business# Bitcoin Price# Investments# Asset Management# Cryptocurrency InvestmentAdd reactionAdd reactionRead moreMarathon to purchase 200MW Bitcoin mining center from Applied Digital for $87.3MPrice analysis 3/15: BTC, ETH, BNB, SOL, XRP, ADA, DOGE, AVAX, SHIB, DOTBitcoin drops 9% from its ATH as the market shows signs of being ‘overheated’

News Feed

How SLP Dividends Can Tokenize Anything, Including the Stock Market
How SLP Dividends Can Tokenize Anything, Including the Stock Market Not everyone is lucky enough to have access to the stock market and the ability to buy shares in successful co
NoVa Battles’ NoVa (NVA) Token Is Now Listed in Bitrue
NoVa Battles’ NoVa (NVA) Token Is Now Listed in Bitrue press release PRESS RELEASE.NoVa Battles has taken another step forward by completing another major milestone, being listed
BlackRock, Grayscale have to wait for SEC’s spot ETH ETF decisions
Derek Andersen2 hours agoBlackRock, Grayscale have to wait for SEC’s spot ETH ETF decisionsAmendments are slowing down the SEC in both cases, although observers say the agency is not really engaged with them.672 Total
Supreme Court ruling ‘changes the game’ for US crypto firms
Andrew SingerJul 11, 2024Supreme Court ruling ‘changes the game’ for US crypto firmsThe high court’s decision further bolsters the argument “that Congress, not an agency, should decide if — and how — to regul
Defi Protocol Anchor to Implement ‘Semi-Dynamic Earn Rate’ Following Governance Vote
Defi Protocol Anchor to Implement "Semi-Dynamic Earn Rate" Following Governance Vote On Thursday, the team behind the lending protocol Anchor announced that a proposal has passed a
London-Based Cryptocurrency Exchange LBX Faces Compulsory Liquidation
London-Based Cryptocurrency Exchange LBX Faces Compulsory Liquidation London-based cryptocurrency exchange LBX is the latest digital asset trading venue to face critical difficul
Crypto Firm Voyager Digital Secures a $500M Line of Credit From Alameda Ventures to Cope With 3AC Exposure
Crypto Firm Voyager Digital Secures a $500M Line of Credit From Alameda Ventures to Cope With 3AC Exposure Three days ago, Bitcoin.com News reported on the publicly listed company
After Blockstack’s Regulated Offering, Where Now For US Token Sales?
After Blockstack’s Regulated Offering, Where Now For US Token Sales? When Blockstack announced the first Reg A+ token sale, many believed it would open the floodgates for a spa
Digital collectibles market sees 45% decline in Q2
Ezra Reguerra56 minutes agoDigital collectibles market sees 45% decline in Q2CryptoSlam data shows a significant volume drop for NFTs from Q1 to Q2, with digital collectibles set to hit the lowest monthly transactions si
Brayden Lindrea4 hours agoAI chatbots are illegally ripping off copyrighted news, says media groupAI developers are taking revenue, data and users away from news publications by building competing products, the News Medi
Kenya Based Fintech Kwara Raises $4 Million in Seed Round
Kenya Based Fintech Kwara Raises $4 Million in Seed Round A Kenya based fintech, Kwara has raised $4 million in a seed round that was led by Breega VC firm. The funds will be used
Q3 NFT Report Shows Non-Fungible Token Markets ‘Are in Phase of Dynamic, Unstoppable Growth’
Q3 NFT Report Shows Non-Fungible Token Markets ‘Are in Phase of Dynamic, Unstoppable Growth’ Non-fungible token (NFT) assets have seen significant demand since the beginning of