Financial advisers likely to give bitcoin ETF a ‘wide berth’
The approval of bitcoin exchange traded funds in the United States might move the cryptocurrency into the mainstream, but Australian retail investors will have to go it alone because financial planning licences stymie the provision of advice about digital assets.
Caroline Bowler, who runs BTC Markets, Australia’s largest cryptocurrency exchange, said the Securities and Exchange Commission’s decision “cracks open” bitcoin to retail and institutional investors. “Locally, it provides greater context for the ASX to list a spot bitcoin ETF,” she added.
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