Bank Clients Just Dipped Their Toes Into Bitcoin ETFs, but Q4 Could See a FOMO Spike

Coindesk
15 Nov 2024
  • Goldman Sachs, Morgan Stanley, Bank of America and other Wall Street banks continued buying shares of the spot bitcoin exchange-traded funds on behalf of clients.
  • While allocations barely changed, most likely due to uneventful price action in bitcoin, the fourth quarter could see renewed interest sparked by recent new all-time highs.

Wealth management clients of Wall Street banks like Goldman Sachs, Bank of America and Morgan Stanley in the third quarter continued to modestly accumulate (or trade) bitcoin (BTC) via spot bitcoin exchange-traded funds. Given the huge spike in crypto prices following last week's U.S. presidential election, it's possible the action will perk up in the fourth quarter.

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