Key Takeaways:
- Morgan Stanley authorized its 15,000 financial advisers to recommend Bitcoin ETFs, effective August 7.
- Recommended ETFs include BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC).
- This approval signals growing acceptance of Bitcoin within the financial industry, with Morgan Stanley managing approximately $3.75 trillion.
Morgan Stanley, the largest U.S. wealth manager, has authorized its 15,000 financial advisers to recommend Bitcoin exchange-traded funds (ETFs) starting August 7.
Currently, the advisory platform is recommending ETFs from BlackRock and Fidelity, specifically the iShares Bitcoin Trust (IBIT) and Wise Origin Bitcoin Fund (FBTC).
NEW: 🇺🇸 Morgan Stanley’s 15,000 advisors will start pitching #Bitcoin ETFs from today.
— Bitcoin Magazine (@BitcoinMagazine) August 7, 2024
Here we go 🚀 pic.twitter.com/PpgP73oV9r
This approval marks a significant milestone for the cryptocurrency market, as Morgan Stanley’s network manages approximately $3.75 trillion.
The recommendation of these Bitcoin ETFs signifies growing acceptance within the financial industry.
BlackRock’s IBIT and Fidelity’s FBTC are gaining traction among both major advisory firms and independent financial advisers.
JUST IN: $1.3 trillion asset manager Morgan Stanley advisors to offer spot #Bitcoin ETFs to clients starting today.
— Watcher.Guru (@WatcherGuru) August 7, 2024
Matt Horne, head of digital asset strategists at Fidelity Investments, noted strong demand across all client segments since the launch of these spot crypto ETPs.
Leading advisory platforms’ adoption is expected to drive significant inflows into spot BTC ETFs.
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