Bank of America Merrill Lynch has banned its clients from investing Barry Silbert’s bitcoin fund, Reuters reported.

According to a memo sent to nearly 17,000 brokers at Merrill Lynch and Merrill Edge, BofA Merrill Lynch cited concerns about the “eligibility standards” for its decision to stop approving new orders for Bitcoin Investment Trust.

“The decision to close GBTC to new purchases is driven by concerns pertaining to suitability and eligibility standards of this product,” the memo read, as reviewed by the Wall Street Journal.

Barry Silbert is a well-known figure in the cryptocurrency industry. He is the founder and CEO of Digital Currency Group, which established Grayscale Investments in 2013, which runs Bitcoin Investment Trust.

Commenting on the latest developments at Merrill Lynch, Silbert told Reuters:

“We look forward to speaking with Merrill Lynch and addressing any questions or concerns they have about the Bitcoin Investment Trust. We are unaware of any similar policies at other brokerage firms.”

The eligible shares of the Bitcoin Investment Trust started trading under the ticker GBTC in 2015. According to the website:

“The Bitcoin Investment Trust provides a secure structure to gain exposure to the price performance of bitcoin. Eligible shares are quoted on the OTCQX, the top marketplace operated by OTC Markets under the Alternative Reporting Standards. Investors can buy and sell shares through most traditional brokerage accounts at prices dictated by the market.”