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Reuters: Wealth Managers are Clamoring for the Approval of Bitcoin ETF

Amy Liu

Summary: Leuthold Group Chief Investment Officer Jim Paulsen told Reuters he is frustrated by not being able to hold bitcoin for his clients. Leuthold Group manages $1 billion but regulatory barriers prevent the firm from holding cryptocurrency. Wealth managers are clamoring for the approval of bitcoin exchange-traded funds (ETFs) that would meet the legal standards required ...

Leuthold Group Chief Investment Officer Jim Paulsen told Reuters he is frustrated by not being able to hold bitcoin for his clients. Leuthold Group manages $1 billion but regulatory barriers prevent the firm from holding cryptocurrency.

Wealth managers are clamoring for the approval of bitcoin exchange-traded funds (ETFs) that would meet the legal standards required of traditional investments, according to Reuters.

“What I like about bitcoin is… its correlation to stocks and other assets is extraordinarily independent,” Paulsen told Reuters.

By Amy Liu

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