Cetera Introduces Bitcoin ETF Policy and Guidance for Financial Professionals

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Mar 14, 2024, 10:03 ET

Cetera among the first wealth management firms to deliver comprehensive education, training and resources addressing rapidly growing investment products

Policy represents a "prudent embrace" of bitcoin ETFs and the latest Cetera offering to help financial professionals best serve their clients and strategically grow their business

SAN DIEGO, March 14, 2024 /PRNewswire/ -- Cetera Financial Group (Cetera), the premier financial advisor Wealth Hub, announced today that it has introduced a new policy regarding the usage of bitcoin ETFs in brokerage accounts. The policy includes education and resources designed to help affiliated financial professionals guide their clients in incorporating bitcoin ETFs into their investment portfolios. Cetera is among the first wealth management firms to roll out a formal policy on bitcoin ETFs as exponentially more investors are exploring the products and investing in bitcoin.

"As expected, we are prudently embracing bitcoin ETFs and we prioritized developing this important guidance to help our financial professionals implement these products in client portfolios," said Matt Fries, head of investment products and partner solutions at Cetera. "Today's investors have increasingly complex needs, and our investment products team is here to support our financial professionals across the investment spectrum. We will continue to proactively evaluate the implications of bitcoin ETFs and related products and modify our policies accordingly, and we look forward to partnering with our financial professionals to adopt bitcoin ETFs when appropriate with their clients."

Cetera has approved usage of the following spot bitcoin ETFs: Invesco Galaxy Bitcoin ETF (BTCO), Franklin Bitcoin ETF (EZBC), Fidelity Wise Origin Bitcoin Fund (FBTC), and Blackrock iShares Bitcoin Trust (IBIT). The selected funds are sponsored by leading ETF providers with track records of successfully launching new product strategies, and are well positioned with established resources, tools and knowledge. Training will be available for financial professionals on Cetera's award-winning AdviceWorks portal starting on March 25.

Cetera's new program follows exponential growth of bitcoin ETFs among investors. Approximately 50 million people own bitcoin, as of February 2024, according to the number of unique addresses with non-zero balances of bitcoin. This represents an increase of 20 million users compared to 2023.

Visit www.cetera.com for more information.

About Cetera

Cetera Financial Group, which is owned by Cetera Holdings (collectively, Cetera), is the premier financial advisor Wealth Hub where financial advisors and institutions optimize their control and value creation. Breaking away from a commoditized and homogenous IBD model, Cetera offers financial professionals and institutions the latest solutions, support, and services to grow, scale, or transition with a merger, sale, investment, or succession plan. Cetera proudly serves independent financial advisors, tax professionals, licensed administrators, large enterprises, as well as institutions, such as banks and credit unions, providing an established and repeatable blueprint for scalable growth.

Home to more than 12,000 financial professionals and their teams, Cetera oversees more than $475 billion in assets under administration and $190 billion in assets under management, as of December 20, 2023. In a recent advisor satisfaction survey of more than 32,000 reviews, Cetera's Voice of Customer (VoC) program vigorously measures advisor experience and satisfaction 24/7. Currently, it's ranked 4.8 out of 5 stars.

Visit www.cetera.com, and follow Cetera on LinkedIn, YouTube, Twitter and Facebook.

"Cetera Financial Group" refers to the network of independent retail firms encompassing, among others, Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Investment Services LLC (marketed as Cetera Financial Institutions or Cetera Investors), and Cetera Financial Specialists LLC. All firms are FINRA/SIPC members. Located at: 655 W. Broadway, 11th Floor, San Diego, CA 92101.

Important Disclosure Information

Cetera does not offer any direct investments, endorsements, or advice as it relates to Bitcoin or any crypto currency.

Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the prospectus and summary prospectus, which can be obtained from a financial professional and should be read carefully before investing.

SOURCE Cetera Financial Group