Bitcoin ETFs hype stalled by due diligence: Bloomberg

Companies such as LPL Financial Holdings are currently conducting due diligence on the newly approved Bitcoin ETFs.

Bitcoin exchange-traded funds adoption has been slowed by due diligence processes from large trading platforms. 

According to a Feb. 3 report from Bloomberg, companies such as LPL Financial Holdings, one of the largest independent broker-dealers in the United States, are currently examining the recently approved Bitcoin ETFs to determine whether they will be available for nearly 19,000 independent financial advisers overseeing $1.4 trillion in assets.

“We just want to see how they work in the markets,” said Rob Pettman, vice president of wealth management solutions for LPL Financial.

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