Wall Street banks have sold over $530 million in notes linked to the BlackRock Bitcoin ETF.

PANews reported on December 17th, citing Bloomberg, that Bitcoin was once considered too volatile, poorly regulated, and too marginal to be packaged into a financial instrument by Wall Street firms and sold to wealthy clients. Now, the situation is quite different. In July, Jefferies Financial Group issued the first U.S. structured note linked to the BlackRock Bitcoin ETF. Since then, at least three other banks, including Goldman Sachs, Morgan Stanley, and JPMorgan Chase, have followed suit. According to data from WSD's Structured Products Intelligence, these banks have sold over $530 million worth of notes linked to BlackRock's iShares Bitcoin Trust (IBIT). In fact, banks are incorporating cryptocurrency exposure into new products that offer customized returns based on different risk appetites and include some downside protection.