LPL Financial Holdings, one of the largest independent brokers in the USA, continues its efforts to offer spot Bitcoin ETF to its customers.
under management $1.4 trillion LPL, which hosts More than 19,000 customers announced that it continues to work on a spot Bitcoin exchange traded fund (ETF).
According to the news provided by Bloomberg, the giant company, which is abstaining on the issue for now, has at least taken the necessary steps to complete the evaluations. They need 3 months time he stated.
Making a statement on the subject, LPL Asset Management Solutions Vice President Rob Pettmanspot Bitcoin ETFs will see their market capabilities over time, and if they trust He stated that they will offer these products to their investors:
We just want to see how they work in the markets. These can be a very negative experience for the investor and financial advisor. It is also incredibly costly for a company like us to help facilitate this operationally. It’s important to make sure ETFs have a good investment thesis because they are durable over time. Ultimately, this is the position we normally come to when evaluating these. Time will show that.
With the approval of Spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) on January 10, an important door was opened for institutional investors. currently BlackRock, VanEck And Fidelity Finance giants such as, which manage trillions of dollars, offer spot Bitcoin ETF services to their customers.