Citigroup Wealth Promotes Spot Bitcoin ETF

Citigroup Wealth is promoting a spot Bitcoin ETF to its clients. In a report released in October, Citigroup described such ETFs as a way to hold Bitcoin through brokerage accounts, alongside allocations in stocks and bonds. Within two trading days after a hack on Binance, approximately $1 billion flowed out of U.S. spot Bitcoin ETFs. Citigroup had previously committed to launching its Custody+ Bitcoin custody service for institutions later this year, but has not announced a specific date. Matthew Sigel from VanEck stated that the hack has delayed the launch of this service, a claim that Citigroup has yet to confirm.

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