The post Morgan Stanley’s New Policy: Bitcoin ETFs for Eligible Clients appeared on BitcoinEthereumNews.com.

The latest development in this regard is that Morgan Stanley has finally come up in support of Bitcoin ETFs. From August 7, Morgan Stanley’s 15,000 financial advisors will recommend Bitcoin ETFs to the clients. This could make Morgan Stanley the first of Wall Street’s big banks to do it. It could also pave the way for the others to also make similar decisions. Morgan Stanley Advises on Top Bitcoin ETFs Morgan Stanley’s advisors will initially recommend two Bitcoin ETFs. Those include the BlackRock’s iShares Bitcoin Trust (IBIT) and the Fidelity’s Wise Origin Bitcoin Fund (FBTC). IBIT currently holds 340,341 BTC which is equivalent to $22.2 billion while, FBTC holds 193,741 BTC which is equivalent to $12.6 billion. Thus, the bank wants to target the high net worth investors who wish to gain exposure to Bitcoin through these ETFs. Thus, only clients with a net worth of $1.5 million or more will be offered recommendations on these ETFs. Also, these investments will not extend to retirement accounts as they are not tax sheltered investment accounts. This is because the existing and potential clients are asking for them and the market for digital assets is constantly changing and growing. Morgan Stanley Monitors Bitcoin ETF Investments As for the risks, Morgan Stanley will track the cryptocurrency investing of its clients in order not to let the latter buy too much Bitcoin. This can be attributed to the fact that the bank wants to minimize the risks that comes with investing in cryptocurrencies. Nonetheless, the bank has not lost hope in the Bitcoin ETFs to attract a lot of investments in future. These ETFs are only suitable for high risk ‘ventures only sugar coated for potential investors who are willing to take risks. The bank’s approach also shows a calculated approach to entering the digital asset market…

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Filed under: News - @ August 3, 2024 4:18 pm