SEC Sues Merrill Lynch Over Market Volatility Profits

According to Odaily, the U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Merrill Lynch, accusing the firm of profiting from market volatility in client transactions. This legal action highlights concerns over the brokerage's practices in handling customer trades and the potential exploitation of market fluctuations for financial gain. Previously, it was reported that Merrill Lynch's brokerage division had begun offering Bitcoin spot ETF trading services to its wealth management clients. This move was in response to client demand, with the bank initially providing approved ETF products to select wealth management clients who hold brokerage accounts. The introduction of these services marks a significant step in the integration of cryptocurrency products into traditional financial services, reflecting the growing interest and demand for digital assets among investors.