Join our Telegram channel to stay up to date on breaking news coverage
Morgan Stanley is considering expanding the sale of spot bitcoin ETFs by giving its 15,000 brokers the ability to solicit purchases from clients, AdvisorHub reported, citing two senior executives familiar with the matter.
The Wall Street giant has only sold bitcoin ETFs unsolicited so far, meaning clients must approach their advisors to request spot bitcoin ETFs be included in their portfolios, according to AdvisorHub. bitcoin-etfs-sources/”>history saying.
.
Demand for bitcoin Spot ETFs Could Increase
If advisors are allowed to recommend these crypto ETFs, demand may increase, although the company will also be exposed to additional liability. Morgan Stanley In this way, it tries to establish the necessary “guardrails” for the requested purchases.
This due diligence includes evaluating risk tolerance requirements as well as allocation limits and trading frequency, one of the executives said. “We're going to make sure everyone has access to it,” the executive said. “We just want to do it in a controlled way.”
A similarly cautious approach is being taken by Merrill Lynch and Wells Fargo, who also only sell spot bitcoin ETFs when requested by clients.
Morgan Stanley has a huge brokerage platform
Earlier this year, it was reported that Morgan Stanley is considering offering spot bitcoin ETF products to investors through its huge brokerage platform.
<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”11.202416918429″>
LATEST: Morgan Stanley filed prospectus to add twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin exposure in 2 of its funds.
– Morgan Stanley seeks exposure to bitcoin ETFs for twelve of its funds.
– With a huge management of 1.5 trillion dollars, its measure causes a sensation and will arouse more and more interest.
– Their…
—Kyle Chassé (@kyle_chasse) twitter.com/kyle_chasse/status/1782799279305715908?ref_src=twsrc%5Etfw”>April 23, 2024
With more than $150 billion in assets under management, Morgan Stanley's wealth management unit is among the largest broker-dealer platforms in the United States.
Its focus on the recently launched bitcoin spot ETFs is driven by the bank's belief that its approval signals a “potential paradigm shift.” Head of digital asset markets Andrew Peel said digital assets will influence the future of international finance and trade.
Related Posts:
99Bitcoins (99BTC) – New token to learn how to earn
- Audited by solid evidence
- Established brand: founded in 2013
- Free Airdrop – Win a Share of $99,999
- Learn to Earn: Earn money to complete trading courses
- More than 700,000 YouTube communities
Join our Telegram channel to stay up to date on breaking news coverage
<script async src="//platform.twitter.com/widgets.js” charset=”utf-8″>
