Cetera, a financial advisory firm that manages $475 billion in assets, announced that it has introduced a new policy regarding the use of Bitcoin ETFs in its brokerage accounts.
The policy includes education and resources designed to help member financial professionals guide their clients in incorporating BTC ETFs into their investment portfolios.
Cetera is among the first asset management firms to introduce a formal policy regarding Bitcoin ETFs as more and more investors explore the products and invest in BTC. “Unsurprisingly, we are cautious adopters of BTC ETFs and have prioritized developing this important guide to help our financial professionals implement these products across client portfolios,” said Matt Fries, head of investment products and partner solutions at Cetera.
The firm has approved the use of the following spot BTC ETFs:
- Invesco Galaxy Bitcoin ETF (BTCO)
- Franklin Bitcoin ETF (EZBC)
- Fidelity Wise Origin Bitcoin Fund (FBTC)
- Blackrock iShares Bitcoin Trust (IBIT)
The training will be available for finance professionals on Cetera's AdviceWorks portal starting March 25.
According to the number of unique addresses with a non-zero BTC balance, approximately 50 million people own BTC as of February 2024. This represents an increase of 20 million users compared to 2023.
*This is not investment advice.