{"id":25977,"date":"2024-02-04T01:21:26","date_gmt":"2024-02-04T01:21:26","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/financial-giants-exercise-caution-with-bitcoin-etfs-bloomberg-reports\/"},"modified":"2024-02-04T01:21:26","modified_gmt":"2024-02-04T01:21:26","slug":"financial-giants-exercise-caution-with-bitcoin-etfs-bloomberg-reports","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/financial-giants-exercise-caution-with-bitcoin-etfs-bloomberg-reports\/","title":{"rendered":"Financial Giants Exercise Caution with Bitcoin ETFs: Bloomberg Reports"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>The excitement surrounding the approval of Bitcoin exchange-traded funds (ETFs) is being tempered by the careful scrutiny of large trading platforms, as they undertake thorough due diligence processes. A <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-03\/lpl-s-1-4-trillion-gatekeeper-avoids-bitcoin-etf-hype-for-now\">report<\/a> from Bloomberg on Saturday highlighted that entities like LPL Financial Holdings, leading independent broker-dealer in the U.S., are meticulously evaluating the newly <a href=\"https:\/\/igaming.org\/crypto\/u-s-markets-to-see-spot-bitcoin-etfs-after-sec-approval\/\">approved Bitcoin ETFs<\/a>. These funds are under consideration for inclusion in the portfolios of nearly 19,000 independent financial advisers who manage assets totaling $1.4 trillion.<\/p>\n<p>Rob Pettman, LPL Financial\u2019s vice president of wealth management solutions, explained the cautious approach stating, <em>\u201cWe just want to see how they work in the markets.\u201d<\/em> This comment underscores the importance of due diligence, a detailed investigation aimed at ensuring a comprehensive understanding of all relevant facts, risks, and opportunities before making an investment decision.<\/p>\n<p>LPL Financial is aiming to complete its evaluation of Bitcoin ETFs within three months. A particular concern being assessed is the risk of ETFs being discontinued if they fail to attract enough investment, which could result in a costly and negative outcome for both investors and advisers. Pettman emphasized the importance of ETF durability and a solid investment rationale, saying, <em>\u201cThat can be a very negative experience for the investor, for the financial adviser. It\u2019s also incredibly costly for a firm like ours operationally to help to facilitate that.\u201d<\/em><\/p>\n<p>According to data compiled by Bloomberg, there were 253 ETF closures in 2023, each with an average asset total of $34 million, including cryptocurrency-related products like the VanEck Digital Assets Mining ETF (DAM) and the Volt Crypto Industry Revolution. Pettman concluded, <em>\u201cTime is going to tell on the investment thesis. And that\u2019s essentially what we\u2019re monitoring at the moment,\u201d<\/em> highlighting the cautious stance LPL Financial is taking towards integrating Bitcoin ETFs into their offerings.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/financial-giants-exercise-caution-with-bitcoin-etfs-bloomberg-reports\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) The excitement surrounding the approval of Bitcoin exchange-traded funds (ETFs) is being tempered by the careful scrutiny of large trading platforms, as they undertake thorough due diligence processes. A report from Bloomberg on Saturday highlighted that entities like LPL Financial Holdings, leading independent broker-dealer in the [&hellip;]<\/p>\n","protected":false},"author":34,"featured_media":25978,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/25977"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=25977"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/25977\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/25978"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=25977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=25977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=25977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}