Morgan Stanley to Offer Bitcoin ETFs to Wealthy Clients

Morgan Stanley announced that its approximately 15,000 advisors will be able to offer bitcoin ETFs to select clients starting next week, responding to growing client demand. 

Advisors will pitch BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund to clients with a net worth of at least $1.5 million and a risk tolerance for speculative investments. This policy, effective August 7, makes Morgan Stanley the first wirehouse firm to offer such products, according to CNBC.

Eligible clients can invest in the bitcoin funds through their taxable Morgan Stanley brokerage accounts but not with retirement funds. The firm plans to monitor client holdings to prevent overexposure to the bitcoin funds.

Crypto supporters celebrated the news on social media platform X, formerly known as Twitter.