Reliable sources have indicated that Merrill Lynch, a prominent investment bank, may also join UBS and Citigroup in offering Bitcoin ETFs to its clients in the near future. However, Merrill Lynch is currently adopting a cautious approach to assess the trading efficacy of Bitcoin ETFs before diving in. By making this decision, UBS and Citigroup have put to rest speculations circulating within the crypto community, which suggested that leading players in the credit and financial industry might align with Vanguard’s stance and deny their clients access to Bitcoin ETFs.
Vanguard, the second-largest asset manager globally, had announced that it would prohibit its clients from purchasing shares of new spot Bitcoin ETFs, citing a misalignment with its investment philosophy.