Morgan Stanley, with $1.5T Assets, First Major Bank to Offer Bitcoin ETPs to Clients

Aug 2, 2024, 04:51 PM

Morgan Stanley, the largest wealth management firm globally with $1.5 trillion in assets, has become the first major investment bank to allow its advisors to include Bitcoin ETPs (Exchange Traded Products) in client portfolios. This move follows extensive due diligence and is expected to set a precedent for other investment banks. Morgan Stanley's decision has already resulted in a record-setting $20 billion in inflows over six months, largely without the $30 trillion US market. The firm is now gearing up to pitch Bitcoin to its clients, marking a significant milestone in the adoption of cryptocurrency within traditional finance.