Citigroup Wealth Management is promoting spot Bitcoin ETFs to its clients; institutional custody services may be delayed.

Citi Wealth is currently promoting spot Bitcoin ETFs to its clients, describing them as a way to hold Bitcoin through a brokerage account, alongside stocks and bonds. In the two trading days following the Binance hack, US spot Bitcoin ETFs saw outflows of approximately $1 billion. Matthew Sigel of VanEck stated that the hack delayed the launch of Citigroup's Custody+ Bitcoin custody service; Citigroup has not confirmed this claim or announced a specific launch date for the service.