Wealth manager Cetera selects 4-position Bitcoin ETF for its advisors

Cetera has issued a policy and guidance on Bitcoin ETFs for professional financial advisors.
The wealth management firm has selected four positions for the Bitcoin ETF among more than 12,000 financial advisors on its platform.
Cetera pick is BlackRock's IBIT, Invesco Galaxy's BTCO, Franklin Templeton's EZBC and Fidelity's FBTC.

Cetera Financial Group, a wealth management firm with over $475 billion in assets under management and over $190 billion in assets, has approved four Bitcoin exchange-traded funds (ETFs) for its platform.

Cetera chooses IBIT, FBTC, BTCO and EZBC for its advisors

The company announced the move on Thursday, saying the new policy and guidelines will help finance professionals provide the best possible service to their clients as they seek to grow their businesses.

Over 12,000 financial advisors with Wealth Hub can now offer four positions Bitcoin ETF to their clients. These are Blackrock iShares Bitcoin Trust (IBIT), Invesco Galaxy Bitcoin ETF (BTCO), Franklin Bitcoin ETF (EZBC) and Fidelity Wise Origin Bitcoin Fund (FBTC).

“As expected, we are cautiously accepting bitcoin ETFs and have made it a priority to prepare this important guide to help our financial professionals implement these products in client portfolios,” Matt Fries, head of investment products and partner solutions at Cetera, said in a press release.

According to Cetera, the selected EFAs are suppliers “with a track record of successfully launching new product strategies.”

Such providers have tools, expertise and established resources that give them an advantage over others.

Cetera will offer training for financial professionals on Bitcoin ETFs on the AddiceWorks portal starting March 25, 2024.