Categories: Market Watch

Morgan Stanley to Offer Bitcoin ETFs to Wealthy Clients

Wall Street giant Morgan Stanley’s (MS) advisers will be able to offer bitcoin (BTC) exchange-traded funds (ETFs) to wealthy clients starting Wednesday, according to CNBC.

Morgan Stanley is allowing its 15,000+ financial advisers to sell shares of BlackRock’s IBIT and Fidelity’s FBTC, CNBC reported on Friday, citing people familiar with the matter. Clients will need to have a net worth of at least $1.5 million.

January’s approval of spot bitcoin ETFs in the U.S. brought hopes the investment vehicles would attract the deep pockets of financial institutions to cryptocy. However, major companies like Morgan Stanley often have lengthy compliance and review processes to undertake before they approve funds to be offered to their clients.

Terron Gold

Recent Posts

Nasdaq Bets $100 Million on Kraken Parent Payward to Put Wall Street Stocks Onchain

Nasdaq is deepening its push into tokenized markets with a $100 million investment in Payward,…

5 days ago

MoneyGram Turns Stablecoins Into Everyday Money With New Mastercard

MoneyGram is pushing stablecoins beyond crypto trading and remittances with a new payment card designed…

5 days ago

Hunter Biden’s LAPTOP Memecoin Crashes 98% Within an Hour After Wild $1.6 Billion Debut

Hunter Biden’s newly launched LAPTOP memecoin delivered exactly the kind of chaos critics warned about…

6 days ago

Jack Dorsey’s Block Wants a Federal Bank Charter for Bitcoin and Stablecoin Custody

Jack Dorsey's Block is making another major move into regulated finance, applying to create a…

7 days ago

ChatGPT, Claude, Gemini and Grok Go Down in Rare Simultaneous AI Outage

Some of the world's biggest AI platforms experienced overlapping service disruptions on Thursday, September 3,…

2 weeks ago

U.S. Government Puts GDP and Inflation Data Onchain With Chainlink

Official U.S. economic data is moving directly onto public blockchains. The U.S. Department of Commerce…

2 weeks ago