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Morgan Stanley to Allow Advisors to Offer Bitcoin ETFs to Select Clients Starting August 7th: CNBC

Aug 2, 2024, 02:15 PM

Morgan Stanley, the largest wealth management firm with $1.5 trillion in assets, has announced that it will allow its financial advisors to offer bitcoin exchange-traded funds (ETFs) to select clients starting August 7th. This marks a significant move as Morgan Stanley becomes the first major Wall Street firm to permit its advisors to pitch bitcoin ETFs, according to CNBC. The firm will initially offer two ETFs, IBIT and FBTC. IBIT has already seen a record-setting $20 billion in inflows over the past six months, despite the absence of the $30 trillion U.S. market.