This is not financial advice. Just sharing of information.
My friend is a long term Bitcoin advocate and HODLer, who also operates a wealth mgmt practice at one of the big firms you know of.
Today, in what was otherwise a total bloodbath for global financial markets, they noticed something that completely rocked their world.
IBIT and the other spot BTC ETFs are no longer on their firm’s restricted list for purchases.
Meaning, they (and they assume the other main firms) all officially have full autonomy to invest their client assets into the spot BTC ETFs as of this week.
Which is exactly what they did today.
Further, not only is all the big money in the U.S. now readily available for BTC investment as of this week, but the spot ETFs are also releasing 60% margin.
Which signals the firm’s overall confidence in the resilience of this asset.
(They usually reduce or completely restrict margin for volatile or shaky assets)
As someone who has been in the WM / tradfi space for a long time, while feeling like they need to keep their BTC conviction to themself, I can’t tell you how incredibly shocked, relieved, and excited they are to see this development.
Again, while not financial advice, use this information as you will. Good luck.
submitted by /u/thewealthtrader [comments]
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