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Users Are Expressing Frustration Due To Access Issues With Spot Bitcoin Etf Products.

According to reports, it is indicated that Spot Bitcoin ETFs cannot be purchased on platforms such as Vanguard, Citi, Merrill Lynch, Edward Jones, and UBS.

Vanguard's decision not to sell spot Bitcoin exchange-traded funds on its platform has sparked reactions among customers. According to a January 11th report from The Wall Street Journal, Vanguard stated that it would not offer new spot Bitcoin ETFs to clients, citing incompatibility with its traditional offerings. The company announced that spot Bitcoin ETFs would not be available on the Vanguard platform and clarified that there are no plans to offer Bitcoin ETFs or other crypto products. Vanguard did not apply among the 14 issuers who applied for Bitcoin ETFs last year, leading some investors to transfer their funds to other platforms. Vanguard customer Tony Spencer claimed that the company did not allow the purchase of spot Bitcoin ETFs, stating that the product did not align with Vanguard's investment philosophy. Spencer also alleged that Vanguard only permitted investors to buy Grayscale's Bitcoin product GBTC, which recently converted to a spot ETF.

Coinbase engineer Yuga Cohler announced his decision to convert to one of the 10 spot Bitcoin ETFs, including Fidelity BTC ETF, launched on January 11th. Cohler criticized Vanguard's intentional obstruction of Bitcoin ETFs, considering it a behavior inconsistent with his investment philosophy. Similarly, Bitcoin commentator Neil Jacobs expressed his reaction to the reported decision by stating that he is in the process of transferring funds from Vanguard and commented on it as a "terrible business plan" by Vanguard.

According to The Wall Street Journal, customers of investment firms such as Citi, Merrill Lynch, Edward Jones, and UBS have reported that they cannot purchase spot Bitcoin ETFs on the respective platforms. A source mentioned that UBS is evaluating "offers" from potential spot Bitcoin ETF investors and conducting assessments on a case-by-case basis. It was added that the ETF can only be offered in a brokerage account and is suitable only for "aggressive investors." From the statement, it became apparent that some approved spot Bitcoin ETFs are available on the platform, but not all.

A spokesperson for Citi emphasized that spot Bitcoin ETFs are already available for their institutional customer base, and the company is in the process of evaluating products for individual customers.

Fox Business correspondent Eleanor Terrett reported, based on information from an unnamed source, that Merrill Lynch is waiting to understand if spot Bitcoin ETFs are trading efficiently before deciding to offer the purchase of Bitcoin products.

Spot Bitcoin ETF trading has commenced on JPMorgan's brokerage platform. JPMorgan holds the position of an authorized participant for BlackRock's IBIT product. However, the bank, led by Jamie Dimon, shared a risk disclosure with potential investors considering placing buy orders, according to screenshots shared by Dan McArdle, co-founder of the blockchain intelligence platform Messari.

Spot Bitcoin ETF işlem hacimleri, işlemlerin ilk gününde 4,5 milyar doları aşarak, büyük ölçüde BlackRock'ın IBIT, Grayscale'in GBTC ve Fidelity'nin FBTC ürünlerinden gelen para akışını içermekteydi.

ABD Menkul Kıymetler ve Borsa Komisyonu, ARK 21Shares, Invesco Galaxy, VanEck, WisdomTree, Valkyrie, Bitwise ve Franklin Templeton'ın 19b-4 ve S-1 başvurularını onayladı. Ancak, Hashdex'in henüz S-1 onayı alamadığı belirtiliyor.

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