Bank of America’s Merrill, Wells Fargo Offer Bitcoin ETF Products for Clients (2024)

FAQs

Does Bank of America's Merrill Wells Fargo offer Bitcoin ETF products for clients? ›

Bank of America's Merrill, Wells Fargo Offer Bitcoin ETF Products for Clients. Bank of America Corp.'s Merrill arm and Wells Fargo & Co.'s brokerage unit are offering access to ETFs that invest directly in Bitcoin, underscoring the increasing acceptance of the products by mainstream firms.

Per a regulatory filing, Wells Fargo & Company WFC has announced exposures to cryptocurrencies through investments in numerous Bitcoin exchange-traded funds (ETFs). The move indicates the increasing interests in digital assets among financial institutions.

Wells Fargo and Bank of America's Merrill Are Now Offering Spot Bitcoin ETFs To Clients | Nasdaq.

The two banks have been extending the approved ETFs to brokerage clients who specifically request access since the products were greenlit by the Securities and Exchange Commission in January, as reported by Bloomberg last week.

HSBC has nearly $3.6 million worth of spot bitcoin holdings, all from the fund issued by Ark 21Shares, UBS has around $300,000 worth of spot bitcoin ETF holdings, and Bank of America has collective holdings of around $5.3 million, mostly from BlackRock and Fidelity.

Use our screeners to narrow your search for stocks, mutual funds, ETFs, and bonds. Try the Wells Fargo Advisors Mutual Fund Screener to research thousands of mutual funds across different asset classes, Morningstar categories, sectors, and risk tolerance levels.

Steps to Buy BTC with wells-fargo

Select your preferred currency and purchase amount. Your purchase order will be processed, and the crypto you bought will be credited to your MEXC account once the payment is confirmed.

Bitcoin ETFs are generally available at any broker that allows customers to purchase stocks on a major U.S. exchange. The best brokers for stock trading allow you to buy any available ETF with no commission, so you can get in and out of a position at a low cost.

While credit cards offer benefits such as convenience, generous rewards programs and buyer protections, these aren't as applicable to crypto transactions. For starters, major issuers such as Bank of America, Capital One, Citi and Wells Fargo do not permit their credit cards to be used to buy cryptocurrency.

You can also use your own criteria to narrow the vast selection of ETFs according to category, ratings, fees, risk, performance and other search parameters. Whether you want to use a pre-defined screen or the flexibility to search on your own terms, we help you easily find the right ETFs for you.

Can you buy bitcoin with Merrill Lynch? ›

Merrill Lynch Bans Clients from Investing in Bitcoin Fund

Merrill Lynch, the brokerage arm of Bank of America, has blocked financial advisers and clients from trading in bitcoin-related investments.

Merrill Edge charges a per-contract fee of $0.65, which is in line with most of its peers. Plus, Robinhood offers commission-free cryptocurrency trading, while Merrill Edge doesn't offer cryptocurrencies at all.

Bank of America has partnered with cryptocurrency exchange platforms, such as Coinbase and Gemini, to allow its customers to buy and sell cryptocurrencies. To buy or sell crypto, you can transfer USD from your Bank of America account to your cryptocurrency exchange account.

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These ETFs provide investors with direct exposure to Bitcoin's price movements without the need to buy, store, or manage Bitcoin themselves. They function similarly to traditional ETFs but focus specifically on BTC as the underlying asset. There are eleven spot Bitcoin ETFs available today in the United States.