Financial adviser wealth hub, Cetera Financial Group (Cetera), has unveiled a new rule governing the use of bitcoin exchange-traded funds (ETFs) in brokerage accounts.
The policy offers information and resources to enable affiliated financial professionals assist their customers through the process of introducing bitcoin ETFs into their investment portfolios.
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Cetera is among the first wealth management groups to lay out a clear policy on bitcoin ETFs, as increasingly more investors explore and invest in bitcoin.
Matt Fries, head of investment products and partner solutions at Cetera stated: “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. Today’s investors have increasingly complex needs, and our investment products team is here to support our financial professionals across the investment spectrum. We will continue to proactively evaluate the implications of bitcoin ETFs and related products and modify our policies accordingly, and we look forward to partnering with our financial professionals to adopt bitcoin ETFs when appropriate with their clients.”
The following spot bitcoin exchange-traded funds (ETFs) have been approved for use by Cetera:
- Blackrock iShares Bitcoin Trust (IBIT)
- Fidelity Wise Origin Bitcoin Fund (FBTC)
- Invesco Galaxy Bitcoin ETF (BTCO)
- Franklin Bitcoin ETF (EZBC)
The chosen funds are supported by ETF providers who have a history of effectively introducing novel product strategies.
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By GlobalDataMoreover, they are also in a solid position with pre-existing tools, resources, and expertise.
Financial professionals can begin taking advantage of training on Cetera’s modern AdviceWorks site on 25 March 2024.
Most recently, last month, Wealth Access, a consumer data insights platform that unifies and enriches data to create tailored experiences for financial institutions and investment customers, joined forces with Cetera.
Wealth Access integrates brokerage, trust, and digital banking to provide clients with a comprehensive financial picture, simplifying and improving the range of financial services offered by Cetera’s financial institutions and advisers.
