Bitwise finds 5 US wealth platforms restrict Bitcoin ETP access

More than two years after US spot Bitcoin ETFs won regulatory approval, getting one through a financial advisor still depends heavily on where you bank.

A May 2026 analysis from crypto asset manager Bitwise finds that five major US wealth platforms restrict access to Bitcoin exchange-traded products (ETPs). Another 18 allow only unsolicited trades.

Bitwise sorted US wealth platforms into three buckets based on how they treat Bitcoin ETPs: Restricted, Unsolicited Only, and Solicited.

On a Solicited platform, advisors can actively recommend Bitcoin ETPs to clients. They can bring the idea up in a portfolio review, discuss allocation, and treat it like any other approved product.

According to Bitwise, firms in this group include Morgan Stanley, Fidelity, Charles Schwab, Bank of America, Wells Fargo, and Vanguard.

On an Unsolicited Only platform, advisors cannot pitch the product. They will execute a Bitcoin ETP trade only when the client asks for it. The burden of initiative sits entirely with the investor.

Bitwise places JPMorgan Chase, Goldman Sachs, Citigroup, and UBS in this camp. In total, 18 platforms fall into the Unsolicited Only category.

Then there are the Restricted platforms. These five firms actively limit Bitcoin ETP investment opportunities for clients. Bitwise names HSBC, T. Rowe Price, and American Express among them.