As of June 30, Wall Street giant Morgan Stanley held about $187 million in BlackRock's iShares Bitcoin Trust (IBIT). This amount is equivalent to more than 5.5 million shares of IBIT.
This investment puts the bank on par with other large IBIT holders such as Millennium Management, Capura Management and Goldman Sachs, which recently invested $400 million in a U. S. spot #bitcoin #ETF , including about $238 million in IBIT, and publicly announced it.
earlier this month, Morgan Stanley announced that starting August 7, its 15,000 financial advisors will be able to recommend spot bitcoin fund ETFs to their high net worth clients. The funds in question are BlackRock's IBIT and Fidelity's Wise Origin Bitcoin Fund (FBTC). A former SEC official and prominent advocate of #cryptocurrency adoption, John Reed Stark, has expressed concern about the compliance issues the move could entail.
Morgan Stanley has unleashed an army of 15,000 brokers to voluntarily undergo the largest SEC and FINRA examination in history by promoting bitcoin, Stark said.
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