With the ability to offer BTC investment products from major firms like BlackRock and Fidelity, Morgan Stanley advisors now have the opportunity to further diversify their options for clients.
Morgan Stanley took a momentous step by allowing its approximately 15,000 investment advisors to offer their clients The Bitcoin ETF to customers, a move that could revolutionize the cryptocurrency market and attract significant capital flows towards these assets.
Starting this Wednesday, Morgan Stanley has lifted a restriction that prevented its advisors from offering Bitcoin ETFs to their clients. This decision is significant as it could result in the addition of trillions of dollars into the portfolios managed by one of the largest banks in the United States. With the possibility of offering BTC investment products from major firms such as BlackRock and Fidelity, Morgan Stanley advisors now have the opportunity to further diversify their options for clients.
Change of policy regarding cryptocurrencies
After an initially cautious stance regarding Bitcoin ETFs approved in January, Morgan Stanley has revised its policy and will now allow its brokers to trade these financial derivatives. According to US media, in the coming weeks, around 15,000 financial brokers linked to the bank could begin offering Bitcoin ETFs to eligible institutional clients.
One detail is that this offer will be aimed exclusively at clients with a net worth of at least US$1.5 million, who must also have a high risk tolerance and an interest in speculative investments in cryptocurrenciesThe ETFs will be held in taxable brokerage accounts, and the bank will be responsible for monitoring clients’ cryptocurrency holdings to prevent high volatility.
bitcoin cryptocurrencies
This move is the result of preparations that Morgan Stanley has been carrying out since May. The decision responds to the growing demand from institutional clients and seeks to keep the bank at the forefront of an ever-evolving industry. This foray is expected to significantly increase the flow of capital into the crypto market, which could be beneficial for the price of Bitcoin.
Morgan Stanley’s policy shift comes at a crucial time, amid the US election campaign. Unlike other financial giants such as Goldman Sachs, JPMorgan, Bank of America and Wells Fargo, which have so far maintained a more reserved stance on BTC ETFs, Morgan Stanley is adapting to the new market and political realities. This adjustment in strategy also reflects a changing political context, with the rise of Donald Trump in the presidential race.
Source: Ambito
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