Bank of America's Merrill Lynch and Wells Fargo are offering Bitcoin spot ETFs to clients

Citing sources, Merrill, a department of Bank of America, and the brokerage department of Wells Fargo Co. are offering bitcoin spot ETFs to wealth management clients. Due to client demand, the banks are first offering approved ETF products to some wealth management clients with brokerage accounts.

A representative from Wells Fargo confirmed that bitcoin spot ETFs can be actively purchased through Wells Fargo advisors or the bank's online WellsTrade platform since being approved by the US SEC. A representative from Bank of America did not respond.

Previously, it was reported that Morgan Stanley is deciding whether to allow clients to choose to invest in bitcoin funds.