Morgan Stanley, one of the world's largest investment banks with more than $1.4 trillion in assets under management (AUM), is considering allowing its brokers to directly recommend bitcoin exchange-traded funds (ETFs) to their clients. .
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JUST IN: Morgan Stanley May Let Its 15,000 Brokers Refer twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin ETFs to their clients: Reports
Little by little and then suddenly pic.twitter.com/eORWmQnSPA
– bitcoin Magazine (@BitcoinMagazine) twitter.com/BitcoinMagazine/status/1783410333475823654?ref_src=twsrc%5Etfw”>April 25, 2024
The move comes after the successful launch of bitcoin spot ETFs in the United States earlier this year, which have seen significant demand from investors.
Morgan Stanley has been positive about bitcoin since the approval of bitcoin ETFs, and the bank opened bitcoin ETF purchases to its clients shortly after its launch. However, until now, these purchases have only been available unsolicited, meaning that brokers could not actively present 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, stated: “We're going to make sure 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 way.”
The approval of bitcoin spot ETFs in the United States has provided a regulated and accessible way for institutional and retail investors to gain exposure to bitcoin.
The success of these ETFs has demonstrated the high demand for bitcoin investment products and paved the way for greater mainstream adoption.
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If Morgan Stanley continues to allow its brokers to actively recommend bitcoin ETFs, it could drive a significant influx of capital into these products.
With the bank's extensive customer base and the trust investors place in its recommendations, the move could further boost 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.
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