Sunday, 14 July 2024

Crypto News

Wealth manager Cetera picks 4 spot Bitcoin ETFs for its advisors

Wealth manager Cetera picks 4 spot Bitcoin ETFs for its advisors

  • Cetera has released policy and guidance on spot Bitcoin ETFs for professional financial advisors.
  • The wealth management firm has picked four spot Bitcoin ETFs for the over 12,000 financial advisors on its platform.
  • Cetera pick is BlackRock’s IBIT, Invesco Galaxy’s BTCO, Franklin Templeton’s EZBC and Fidelity’s FBTC.

Cetera Financial Group, a wealth management firm with more than $475 billion in assets under administration and over $190 billion in assets under management, has approved four spot Bitcoin exchange-traded funds (ETFs) for its platform.

Cetera picks IBIT, FBTC, BTCO and EZBC for its advisors

The firm announced the move on Thursday, noting that the new policy and guidance will help financial professionals provide the best services to their clients as they look to grow their businesses.

More than 12,000 financial advisors with the Wealth Hub can now pitch four spot Bitcoin ETFs to their clients. These are Blackrock iShares Bitcoin Trust (IBIT), Invesco Galaxy Bitcoin ETF (BTCO), Franklin Bitcoin ETF (EZBC) and Fidelity Wise Origin Bitcoin Fund (FBTC).

“As expected, we are prudently embracing bitcoin ETFs and we prioritised developing this important guidance to help our financial professionals implement these products in client portfolios,” Matt Fries, head of investment products and partner solutions at Cetera, said in a press release.

According to Cetera, the selected ETFs are those of providers who have a “track record of successfully launching new product strategies.”

Such providers have the tools, knowledge and established resources that put them ahead of others.

Cetera will offer training to financial professionals on spot Bitcoin ETFs on its AdviceWorks portal beginning March 25, 2024.

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