Morgan Stanley, one of the world's largest investment banks with more than $1.4 trillion in assets under management (AUM), is reportedly considering allowing its brokers to directly recommend exchange-traded funds (ETFs) Bitcoin to its customers.
JUST IN: Morgan Stanley could allow its 15,000 brokers to recommend #Bitcoin ETFs to their clients: reports
Little by little, then suddenly 🙌 pic.twitter.com/eORWmQnSPA
– Bitcoin Magazine (@BitcoinMagazine) April 25, 2024
The move comes after the successful launch of Bitcoin Spot ETFs in the US earlier this year, which saw significant demand from investors.
Morgan Stanley has been bullish on Bitcoin since the approval of Bitcoin ETFs, and the bank opened purchases of Bitcoin ETFs to its clients shortly after their launch. However, until now, these purchases were only available on an unsolicited basis, meaning brokers could not actively offer the products to their clients.
The potential policy change would allow Morgan Stanley brokers to proactively recommend Bitcoin ETFs to their clients.
A Morgan Stanley executive, as reported by AdvisorHub, said: “We're going to make sure that we're very careful about it…we're going to make sure that everyone has access to it.” We just want to do it in a controlled manner. »
The approval of Bitcoin Spot ETFs in the United States has provided institutional and retail investors with a regulated and accessible way to gain exposure to Bitcoin.
The success of these ETFs demonstrated the strong demand for Bitcoin investment products and paved the way for increasing mainstream adoption.
If Morgan Stanley allows its brokers to actively recommend Bitcoin ETFs, it could lead to a significant influx of capital into these products.
Given the bank's vast customer base and the trust investors place in its recommendations, the move could further bolster the growth and legitimacy of Bitcoin as an investment asset.
Additionally, Morgan Stanley's potential adoption of Bitcoin ETFs could send a positive signal to other traditional investors, highlighting the growing acceptance and demand for Bitcoin in the financial world.