Merrill Lynch, a large US bank that was integrated into the Bank of America several years ago, banned its customers and consultants who carry out transactions on their behalf to buy bitcoin through the Grayscale Investment Trust. This is reported by the WSJ. Earlier, Merrill Lynch refused to provide customers with access to bitcoin futures.
Grayscale Bitcoin Investment Trust or GBTC is a trust fund operating exclusively with bitcoin, the yield of which is determined by the indicators of the crypto currency. It was created as a tool for traditional investors wishing to earn on the growth rate of bitcoin.
In Merrill Lynch, there is no consensus on the latest decision of the bank's management. Some consultants complain that they miss the opportunity to trade, which their clients are actively interested in.
Others argue that restricting access to bitcoin will help protect investors from excessive risks.
In October last year, analysts at Merrill Lynch said that the real cost of bitcoin can not be estimated.