Advisors and investors aren’t the only ones looking to pick up exposure to bitcoin these days. Even the most old-school and traditional firms on the market are starting to consider building exposure to the cryptocurrency.
Recently, Lazetta Braxton, co-CEO and president of The Real Wealth Coterie and founder of Lazetta & Associates, sat down with CoinShares. When discussing bitcoin integration, Braxton explained how bitcoin ETFs are redefining how firms are approaching the asset class.
“Even the most conservative firms on Wall Street are starting to lean into bitcoin. Morgan Stanley was among the first to offer access to bitcoin funds back in 2021, and is now preparing to add spot bitcoin ETFs to its platform,” Braxton notes. Merill Lynch, Wells Fargo, and JPMorgan Chase have also begun allowing limited client access to these ETFs, typically for high net worth or discretionary accounts. These firms are risk-averse giants, so their involvement speaks volumes about bitcoin’s growing legitimacy as an asset class.
Big-shot Wall Street firms aren’t the only ones giving bitcoin a chance, either. Braxton also noted that the State of Wisconsin Investment Board disclosed a multimillion position in spot bitcoin ETFs.
