Thomas Daniels
Morgan Stanley, the largest wealth management firm in the U.S., has authorized its 15,000 financial advisors to recommend Bitcoin exchange-traded funds (ETFs) to select clients. As of August 7, advisors can now offer 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 high-risk tolerance.
This decision by Morgan Stanley could drive more widespread adoption of Bitcoin in the coming months. “This is the last taboo,” said CNBC reporters, referencing the new influx of advisor funds. “With Morgan Stanley giving their wealth advisors the greenlight to allocate to Bitcoin ETFs, it’s just a matter of time before it gains traction.” The move highlights the increasing acceptance of cryptocurrency by major financial institutions, signaling the potential for broader integration into traditional portfolios.
Morgan Stanley’s decision reflects growing client demand for digital assets despite the ongoing skepticism from other major financial institutions like Goldman Sachs and JPMorgan, which restrict their advisors from proactively offering Bitcoin ETFs. While Morgan Stanley is taking a cautious approach, allowing only specific clients access to these ETFs, experts believe this could pave the way for broader adoption.
The SEC’s recent approval of 11 spot Bitcoin ETFs could mark the beginning of a new phase in Bitcoin’s integration into traditional investment portfolios.
