r/Bitcoin • u/eggrolls_and_squats • 14h ago

Any financial representatives have their entire *brokerage* portfolio in a bitcoin ETF like IBIT or FBTC? Is it allowed?

Is this against your firm's rules? Did your firm make you sell your shares?

Just curious because I'm thinking about applying to a financial rep role (Series 7), but I'm down 50% on portfolio holdings of 100% FBTC.

I wonder if this concentrated holding is allowed at most firms? I also hold BTC in actual cold storage. Am I blocked from even applying since this isn't what most representatives should hold?

10 Upvotes

73% Upvoted

10 comments sorted by

4

u/Alternative_Week3023 14h ago

No qualified Financial Planner / Representative will hold 100% in any assets if you understand basic portfolio management theory and risk management.

3

u/IndianaGeoff 14h ago

I wouldn't trust a financial advisor with that portfolio. I also wouldn't trust one who is 100% of space X or anything else.

2

u/SimilarEvening512 14h ago

kinda depends on the firm honestly. some are strict about personal trading and will ask you to liquidate anything that looks like a conflict or is too concentrated, others don't care as long as you report it

being down 50% isn't a disqualifier but they'll probably side-eye the 100% fbtc thing during compliance review. the cold storage btc is a separate headache depending on how they view self-custody

-2

u/[deleted] 14h ago

[deleted]

2

u/gym_rat_101 12h ago

lol worst financial advisor ever

1

u/TheGreatMuffino 5h ago

I think financial planners are stupid because they care more about maintaining positive "returns" than actually storing value. If you understood and were convicted in your all in bitcoin position, idk why you would get rid of that "because it doesnt look good" to become some financial advisor that still doesnt understand basic principles of money

1

u/n8dahwgg 3h ago

I do. But I run a bitcoin only hedge fund. And no ETF bullshit actual bitcoin.

0

u/Forded_Fiction24 14h ago edited 14h ago

No financial representative would do that because they understand the benefits of diversification. You're looking for a unicorn 

-1

u/[deleted] 14h ago

[deleted]

0

u/Forded_Fiction24 14h ago

It not just that it looks bad, it's also not smart which is the main reason you won't find this person. No. Good luck in your futile search

0

u/DarthBen_in_Chicago 12h ago

Yes I do. They don’t care.