According to Bloomberg, sources revealed that the brokerage departments of Merrill Lynch under Bank of America and Wells Fargo are providing channels for some wealth management clients with brokerage accounts to invest in Bitcoin spot ETFs, as these clients have requested such products.
A representative from Wells Fargo confirmed that since the approval of Bitcoin spot ETFs by the U.S. Securities and Exchange Commission (SEC), users can purchase these products through Wells Fargo Advisors or the bank’s online platform WellsTrade.
Reuters also cited sources reporting that Merrill Lynch has been offering Bitcoin spot ETFs to clients for several weeks.