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Morgan Stanley allows advisors to offer Bitcoin ETFs to clients
The post Morgan Stanley allows advisors to offer Bitcoin ETFs to clients appeared on BitcoinEthereumNews.com. Morgan Stanley has become the first major Wall Street bank to allow its financial advisors to offer Bitcoin exchange-traded funds to its clients. Over 15,000 of the bank’s financial advisors have the go ahead to pitch Bitcoin ETFs to eligible Morgan Stanley clients starting on Aug. 7, 2024. According to a CNBC report on Friday, Morgan Stanley’s 15,000 financial advisors can, from Aug. 7, offer spot Bitcoin ETFs to the bank’s e clients. This sees the bank becomes the first Wall Street banking giant to take this step amid growing demand. Per the reporting, the US-based wealth management giant has allowed two funds for pitching to its customers – BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC). However, while Morgan Stanley has allowed advisors to solicit these ETFs for clients, they will only be accessible to those who qualify. For instance, only clients whose net worth is $1.5 million or more, show an aggressive risk tolerance and want to invest in a speculative investment, will be eligible. The bank will also allow these Bitcoin ETF investments in clients’ taxable brokerage accounts, and not their retirement accounts. FUN FACT: Morgan Stanley’s advisors manage $5.7 TRILLION in client assets. And next week, their 15,000 advisors can solicit eligible clients BlackRock and Fidelity’s #Bitcoin ETFs ???? pic.twitter.com/QTA0xHvxMo — Bitcoin Magazine (@BitcoinMagazine) August 2, 2024 Spot Bitcoin ETFs market IBIT and FTBC are among the 11 spot exchange-traded funds the US Securities and Exchange Commission approved for trading in January 2024. These spot ETFs allow investors to purchase and trade shares of products that track the market performance of the world’s largest digital asset Bitcoin. Like other spot crypto ETFs, IBIT and FBTC offer an investment vehicle for those looking to gain exposure to Bitcoin via a structure that’s easily…
The post Morgan Stanley allows advisors to offer Bitcoin ETFs to clients appeared on BitcoinEthereumNews.com.
Morgan Stanley has become the first major Wall Street bank to allow its financial advisors to offer Bitcoin exchange-traded funds to its clients. Over 15,000 of the bank’s financial advisors have the go ahead to pitch Bitcoin ETFs to eligible Morgan Stanley clients starting on Aug. 7, 2024. According to a CNBC report on Friday, Morgan Stanley’s 15,000 financial advisors can, from Aug. 7, offer spot Bitcoin ETFs to the bank’s e clients. This sees the bank becomes the first Wall Street banking giant to take this step amid growing demand. Per the reporting, the US-based wealth management giant has allowed two funds for pitching to its customers – BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC). However, while Morgan Stanley has allowed advisors to solicit these ETFs for clients, they will only be accessible to those who qualify. For instance, only clients whose net worth is $1.5 million or more, show an aggressive risk tolerance and want to invest in a speculative investment, will be eligible. The bank will also allow these Bitcoin ETF investments in clients’ taxable brokerage accounts, and not their retirement accounts. FUN FACT: Morgan Stanley’s advisors manage $5.7 TRILLION in client assets. And next week, their 15,000 advisors can solicit eligible clients BlackRock and Fidelity’s #Bitcoin ETFs ???? pic.twitter.com/QTA0xHvxMo — Bitcoin Magazine (@BitcoinMagazine) August 2, 2024 Spot Bitcoin ETFs market IBIT and FTBC are among the 11 spot exchange-traded funds the US Securities and Exchange Commission approved for trading in January 2024. These spot ETFs allow investors to purchase and trade shares of products that track the market performance of the world’s largest digital asset Bitcoin. Like other spot crypto ETFs, IBIT and FBTC offer an investment vehicle for those looking to gain exposure to Bitcoin via a structure that’s easily…
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