Merrill Lynch Bars Trading Of Bitcoin Fund As Well As Bitcoin Futures
Saturday, March 21, 2020
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Title : Merrill Lynch Bars Trading Of Bitcoin Fund As Well As Bitcoin Futures
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Merrill Lynch has blocked clients in addition to fiscal advisers who merchandise on their behalf from buying bitcoin, citing concerns over the cryptocurrency’s investment suitability, reports The Wall Street Journal.
The ban applies to all accounts in addition to precludes the firm’s about 17,000 advisers non solely from pitching bitcoin-related investments but likewise from executing customer requests to merchandise the Grayscale Investment Trust bitcoin fund, according to WSJ. The ban extends an existing policy barring access to newly launched bitcoin futures.
Existing positions inwards the bitcoin fund tin hold upward maintained inwards brokerage accounts, but non inwards fee-based advisory account.
“The conclusion to unopen GBTC to novel purchases is driven past times concerns pertaining to suitability in addition to eligibility standards of this product,” according to an internal memo reviewed past times the Journal.
-RW
You are now reading the article Merrill Lynch Bars Trading Of Bitcoin Fund As Well As Bitcoin Futures with the link address https://inspirationsbymeforyou.blogspot.com/2020/03/merrill-lynch-bars-trading-of-bitcoin.html
Title : Merrill Lynch Bars Trading Of Bitcoin Fund As Well As Bitcoin Futures
link : Merrill Lynch Bars Trading Of Bitcoin Fund As Well As Bitcoin Futures
Merrill Lynch Bars Trading Of Bitcoin Fund As Well As Bitcoin Futures
Merrill Lynch has blocked clients in addition to fiscal advisers who merchandise on their behalf from buying bitcoin, citing concerns over the cryptocurrency’s investment suitability, reports The Wall Street Journal.
The ban applies to all accounts in addition to precludes the firm’s about 17,000 advisers non solely from pitching bitcoin-related investments but likewise from executing customer requests to merchandise the Grayscale Investment Trust bitcoin fund, according to WSJ. The ban extends an existing policy barring access to newly launched bitcoin futures.
Existing positions inwards the bitcoin fund tin hold upward maintained inwards brokerage accounts, but non inwards fee-based advisory account.
“The conclusion to unopen GBTC to novel purchases is driven past times concerns pertaining to suitability in addition to eligibility standards of this product,” according to an internal memo reviewed past times the Journal.
-RW
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You are now reading the article Merrill Lynch Bars Trading Of Bitcoin Fund As Well As Bitcoin Futures with the link address https://inspirationsbymeforyou.blogspot.com/2020/03/merrill-lynch-bars-trading-of-bitcoin.html