Morgan Stanley, one of the largest investment banks in the United States, has announced that it will soon allow its 15,000 financial advisors to offer Bitcoin ETF (exchange-traded fund) products to eligible clients. Interestingly, this is the first time a major Wall Street bank has given its wealth management division the green light to promote crypto-based investment products. Bitcoin ETF Exposure For High-Net-Worth Investors According to a CNBC report, sources familiar with the policy change said that Morgan Stanley will allow its advisors to urge clients to buy shares of two specific Bitcoin ETFs – BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC). The new offering will reportedly go live on Wednesday, August 7. Related Reading: PEPE Bullish Trend Line Under Threat: $0.00000766 Level On Sight? Morgan Stanley’s decision reflects growing investor demand for exposure to the cryptocurrency market. The firm noted that the move is a response to its clients’ appetite, as well as an effort to stay ahead of the booming digital asset landscape. However, Morgan Stanley is taking a cautious ap ..
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