Morgan Stanley Advisors Soon Can Offer BTC ETFs to Clients

Morgan Stanley told the firm's 15,000 financial advisors they can begin offering spot BTC ETFs to clients with net worths over $1.5M, CNBC reports.

What’s the Scoop?

• New Shills: Investment bank Morgan Stanley has approved its investment advisory group to solicit client investments for BlackRock’s IBIT and Fidelity’s FBTC spot BTC ETFs beginning next Wednesday, August 7.
• Noted Demand: Morgan Stanley states that it has received client demand for digital assets, but will arbitrarily limit this investment opportunity to clients with a net worth of greater than $1.5M due to the enhanced risk profile of crypto.

Bankless Take:

Optimistically, should Morgan Stanely advisors perceive BTC to be a sound investment, there is a possibility that their support for the asset could influence clients hesitant to invest in crypto to make the purchase. As inspiring as it may be to see an increased number of TradFi investment advisors open to offering spot BTC products, investment advisors are still allocators of client’s discretionary funds.