📊 Morgan Stanley invests heavily in Bitcoin ETF, increases BlackRock's IBIT holdings by $187 million
🚀 Latest news! Morgan Stanley, a heavyweight player on Wall Street, currently holds BlackRock's Bitcoin ETF (IBIT) worth up to $187 million, which is a huge amount of 5.5 million shares!
🌟 According to a 13F filing recently shared by MacroScope, as of June 30, Wall Street giant Morgan Stanley held BlackRock iShares Bitcoin Trust (IBIT) worth approximately $187 million. The amount is equivalent to more than 5.5 million shares of IBIT. As of today, Morgan Stanley has become one of the top five shareholders of IBIT.
🏦 Morgan Stanley not only showed its confidence in Bitcoin in its investment, but also decided to let its 15,000 financial advisors recommend spot Bitcoin ETFs to high-net-worth clients starting August 7. This includes BlackRock's IBIT and Fidelity's Wise Origin Bitcoin Fund (FBTC).
🤔 However, some people have expressed concerns about this. John Reed Stark, a former SEC official and well-known cryptocurrency skeptic, believes that Morgan Stanley may face compliance challenges by doing so, and may even become the largest inspection target in the history of the SEC and FINRA.
💭 It is also believed that Morgan Stanley's decision shows the recognition and trust of traditional financial institutions in the cryptocurrency market. This may attract more capital inflows and is a positive signal for the Bitcoin market. However, compliance issues do need to be taken seriously, after all, the review of regulators will have an important impact on the market.
👇 So, the question is, what do you think of Morgan Stanley's move? Do you think this will promote the development of the Bitcoin market, or will it bring regulatory risks to Morgan Stanley? Let's talk about your views!
