Wealth management firm Cetera Financial Group has announced a "prudent embracing" of spot bitcoin ETFs in brokerage accounts and educational resources to help affiliated financial advisors guide clients in including the funds in their investment portfolios.
Cetera said this week it is among the first wealth management firms to introduce a formal policy on spot bitcoin ETFs, which have been in high demand since the Securities and Exchange Commission approved them in January.
"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," Matt Fries, head of investment products and partner solutions at Cetera, said.
"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."
