Official announcements from financial institutions

Morgan Stanley to Allow Advisors to Offer Bitcoin ETFs from August 7th, Including BlackRock and Fidelity

Aug 2, 2024, 03:14 PM

Morgan Stanley has announced that it will allow its financial advisors to offer spot Bitcoin ETFs to eligible clients, marking a significant move in cryptocurrency adoption by a major Wall Street institution. Starting August 7th, Morgan Stanley's 15,000 wealth advisors will be able to pitch Bitcoin ETFs from BlackRock and Fidelity, including IBIT and FBTC, making it the first major bank to approve Bitcoin for solicited sale to its clients. The advisors manage a substantial $5.7 trillion in client assets. This development, reported by CNBC, represents a notable shift in the financial industry's approach to cryptocurrency, potentially unlocking trillions of dollars in buying power for Bitcoin ETFs. Morgan Stanley manages $1.3 trillion in assets.