Morgan Stanley Plans to Allow its Clients to Invest in Bitcoin ETFs

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Morgan Stanley has announced that their advisers will now have the ability to offer bitcoin exchange-traded funds (ETFs) to their wealthy clients starting on Wednesday.

According to sources familiar with the matter, the bank will allow its 15,000+ financial advisers to sell shares of BlackRock’s IBIT and Fidelity’s FBTC.

However, clients will need to meet certain criteria, including a minimum net worth of $1.5 million. This move was made in response to client demand, as the U.S. approved spot bitcoin ETFs in January, giving hope for increased institutional interest in cryptocurrency.

Despite this, larger financial institutions like Morgan Stanley often have thorough processes in place for compliance and fund approval.

As of March 31, Morgan Stanley held $269.9 million in Grayscale’s Bitcoin Trust, potentially indicating their plans to offer ETFs in the future.