Bitcoin

Spot

Trillion

LPL Financial, one of the important players in the finance industry, takes a cautious approach in the face of the recent excitement about Bitcoin ETFs.
Rob Pettman, a key decision maker at LPL Financial, is responsible for more than a trillion dollars in capital and is not yet convinced that the new spot Bitcoin ETFs are valuable additions to comprehensive trading platforms.
Getting ETF approval from Gary Gensler was just the first step towards popularizing cryptocurrency investing. The real challenge lies in convincing market managers like Pettman of the viability of these new funds. Pettman, LPL's head of asset management solutions, oversees the due diligence process on funds before they are added to the platform, which stores $1.4 trillion in assets overseen by financial advisors.
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The next three months will be critical for LPL as it determines what new funds will be offered to the company's customers. “We just want to see how they work in the markets,” Pettman said. After this evaluation period, the platform will decide which funds to offer or whether it needs more time to evaluate ETFs.
Of primary concern to Pettman is the potential closure of ETFs that fail to accumulate significant assets. Such closures can cause complications for advisors, investors, and platforms like LPL. Pettman said the following on the subject:
<blockquote>
 “This can be a very negative experience for the investor and financial advisor. Moreover, it is incredibly costly for a company like us to provide this operationally.”
</blockquote>
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/company-managing-1-5-trillion-announces-bitcoin-btc-spot-etf-decision/" rel="noopener noreferrer nofollow">Company Managing $1.5 Trillion Announces Bitcoin (BTC) Spot ETF Decision</a>

Company Managing $1.5 Trillion Announces Bitcoin (BTC) Spot ETF Decision

Bitcoin Sistemi EN

Alte articole publicate pe 3 feb. 2024

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