Morgan Stanley notified its 15,000 advisors in a memo that they can offer some clients the opportunity to buy BlackRock Inc.'s iShares Bitcoin Trust, according to Bloomberg. Only clients with a net worth of at least $1.5 million, a high risk tolerance and an interest in investing in speculative assets can be recommended.

Morgan Stanley’s decision could serve as a reference for other banks that are wary of digital assets. Since the U.S. Securities and Exchange Commission reluctantly approved a spot Bitcoin ETF in January, the category has seen inflows and assets exceeding expectations.

BlackRock's IBIT has accumulated nearly $22 billion in assets since its inception, while Fidelity's FBTC has attracted $11 billion. The US Bitcoin ETF has seen a net inflow of nearly $18 billion since its listing, setting a record-breaking debut for the fund category. In July, the SEC approved the issuance of an ETF holding Ethereum.