Securing Gary Gensler’s ETF approval was just the first step toward bringing crypto investing to the masses. Now people like Rob Pettman at LPL Financial — a gatekeeper of more than a trillion dollars in capital — need to be convinced that the new spot-Bitcoin exchange-traded funds are worthy additions to their massive trading platforms.
The message from the LPL executive: The next three months will prove critical in figuring out which of the new funds will be made available to the company’s clients. At top of mind is the notorious slew of ETF closures across the industry’s history as investment fashions come and go.
