Bitcoin Investment Trust Banned By Bank of America Merrill Lynch

News | January 4, 2018 By:

Bank of America Merrill Lynch has reportedly banned its clients from investing in Bitcoin Investment Trust (GBTC). The news comes via a memo from the bank last December which was seen by Reuters.

According to the memo, dated December 8, the bank stopped approving new orders for the Bitcoin Investment Trust because of concerns about the “suitability and eligibility standards of this product.” The memo was sent to roughly 17,000 brokers at Merrill Lynch and Merrill Edge,