Morgan Stanley Gives Green Light to Bitcoin ETFs for 15,000 Advisers
Morgan Stanley, the largest wealth management firm in the U.S., has given its 15,000 financial advisers the green light to start recommending Bitcoin exchange-traded funds (ETFs) to clients as of August 7. This move aligns with an earlier CNBC report on the firm's plans.
Initially, Morgan Stanley is focusing on two Bitcoin ETFs: BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC).
Morgan Stanley’s endorsement is a significant development for the cryptocurrency sector. As the largest wirehouse, with approximately $3.75 trillion in assets under management—including $1 trillion in self-directed accounts—its support could boost the acceptance of Bitcoin ETFs.
Both the BlackRock and Fidelity Bitcoin ETFs are gaining traction not only among large advisory firms like Morgan Stanley but also with independent financial advisers. Roxanna Islam of VettaFi highlighted the growing interest in these products across various client types.
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Matt Horne from Fidelity Investments noted strong demand for these crypto ETFs since their launch, reflecting the asset class’s increasing appeal among retail investors, registered investment advisers (RIAs), and institutional clients.
This adoption by major advisory platforms could potentially lead to a rise in investments in Bitcoin ETFs. Historically, major advisory firms have been cautious about embracing such products, with significant investments previously coming from independent advisors.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
