Swiss financial giant UBS will allow some customers who wish to trade in Bitcoin ETFs under certain conditions, according to a person familiar with the matter. However, it seems that accounts with low risk tolerance cannot purchase it.
A UBS spokesperson declined to comment.
Meanwhile, Citigroup “offers access to Bitcoin ETFs to institutional clients,” a spokesperson told CoinDesk on Tuesday. The bank is “evaluating a product (Bitcoin ETF) for high-net-worth individual clients.”
The Bitcoin ETF, which was approved on January 10th, began trading the following day on the 11th and was a huge success, with billions of dollars worth of transactions being traded.
Vanguard, a major asset management company, announced on the 11th that it will no longer allow its customers to trade in Bitcoin ETFs. Hearsay suggests that UBS and Citi, like Vanguard, may not allow their clients to trade.
In the traditional finance (TradFi) industry, big names like BlackRock, Fidelity, and Invesco offer Bitcoin ETFs. US securities giant Charles Schwab also confirmed to CoinDesk that its clients can now trade in Bitcoin ETFs.
Optimists believe that Bitcoin ETFs will dramatically expand Bitcoin’s investor base, as buying an ETF is easier than buying Bitcoin itself.
｜Translation/Editing: CoinDesk JAPAN Editorial Department