Morgan Stanley Tells Wealth Advisors They Can Pitch Bitcoin ETFs In A First For A Big Bank.
Morgan Stanley, the largest wealth manager in the United States, will reportedly allow financial advisors to offer bitcoin ETFs to eligible clients from August 7th.
This makes it the first major Wall Street bank to do so. The report states that Morgan Stanley’s financial advisors can solicit eligible clients to purchase shares of two spot bitcoin ETFs — BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund.
Morgan Stanley will monitor clients' crypto holdings to ensure they don't have excessive exposure to the volatile asset class.
