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Wells Fargo and Bank of America’s Merrill Are Now Offering Spot Bitcoin ETFs To Clients

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Bank of America Corp.’s Merrill Lynch and Wells Fargo & Co.’s brokerage unit have begun offering access to exchange-traded funds (ETFs) that directly invest in Bitcoin, according to Bloomberg Law.

JUST IN: Wells Fargo and Bank of America’s Merrill are offering spot #Bitcoin ETFs to wealth clients 🚀 pic.twitter.com/Lr3oD5XgrR

— Bitcoin Magazine (@BitcoinMagazine) February 29, 2024

The move by these banks reflects the growing interest among investors in gaining exposure to Bitcoin. Merrill Lynch and Wells Fargo are providing access to approved Bitcoin ETFs to select wealth management clients with brokerage accounts upon request, according to individuals familiar with the matter.

This development comes after spot Bitcoin ETFs had a record setting week in the US, with inflows of BlackRock’s ETF hitting $612 million yesterday. The decision by Merrill Lynch and Wells Fargo to offer these ETFs demonstrates their recognition of the increasing demand for Bitcoin investment options among their affluent clientele.

By providing access to Bitcoin ETFs, these banks are catering to the evolving investment preferences of their clients, who are seeking opportunities to diversify their portfolios and capitalize on the growth potential of Bitcoin. The availability of Bitcoin exposure through mainstream financial institutions like Merrill Lynch and Wells Fargo further legitimizes the Bitcoin market and underscores its integration into traditional finance.

​ The banks are providing access to Bitcoin ETFs to select wealth management clients with brokerage accounts upon request. 

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Crypto News

Lifi Finance Hit by $8 Million Exploit, Warns Users to Avoid Applications

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On Tuesday, the onchain security firm Peckshield revealed that Lifi Finance had been compromised, resulting in the theft of $8 million.

​ On Tuesday, the onchain security firm Peckshield revealed that Lifi Finance had been compromised, resulting in the theft of $8 million. 

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Crypto News

Stripe Launching Bitcoin Purchases in Europe

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Stripe, the global payment processing giant, has expanded its cryptocurrency integration into the European Union, allowing consumers to purchase Bitcoin, Ether, and Solana using their credit or debit cards. This move aims to simplify crypto transactions for European shoppers and online vendors. Key Takeaways Stripe enables crypto purchases in the EU, including Bitcoin, Ether, and […]

​ Stripe, the global payment processing giant, has expanded its cryptocurrency integration into the European Union, allowing consumers to purchase Bitcoin, Ether, and Solana using their credit or debit cards. This move aims to simplify crypto transactions for European shoppers and online vendors. Key Takeaways Stripe enables crypto purchases in the EU, including Bitcoin, Ether, and 

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Crypto News

US Spot Bitcoin ETFs Witness $300 Million Inflows Amidst Seven-Day Positive Streak

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US spot bitcoin ETFs have experienced a remarkable $300 million inflow, marking the seventh consecutive day of positive flows. This surge is led by BlackRock’s IBIT, highlighting the growing investor confidence in bitcoin as a legitimate financial instrument. US spot bitcoin ETFs reported a daily net inflow of $301 million, extending a seven-day positive streak. […]

​ US spot bitcoin ETFs have experienced a remarkable $300 million inflow, marking the seventh consecutive day of positive flows. This surge is led by BlackRock’s IBIT, highlighting the growing investor confidence in bitcoin as a legitimate financial instrument. US spot bitcoin ETFs reported a daily net inflow of $301 million, extending a seven-day positive streak. 

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