Expansion Ahead: Morgan Stanley Plans to Increase Access to Spot Bitcoin ETFs
Morgan Stanley, a prominent global investment bank, is considering broadening access to bitcoin spot exchange-traded funds (ETFs).
The firm may soon allow its approximately 15,000 brokers to actively solicit customer purchases, according to reports from Advisorhub. Citing insights from two senior executives at the firm. This potential move follows the approval of 11 spot bitcoin ETFs by the U.S. Securities and Exchange Commission (SEC) in January. Initially, investment firms like Morgan Stanley offered these funds to clients on an unsolicited basis, requiring customers to initiate discussions with their advisors. Now, Morgan Stanley is working on establishing guidelines, including risk tolerance criteria and trading limits, for solicited purchases.
While the exact timeline for policy revisions remains undisclosed, the firm is focused on providing controlled access to bitcoin investments, acknowledging strong customer interest while also highlighting the speculative nature of these assets. The growing demand for spot bitcoin ETFs, particularly driven by recent market events like the bitcoin halving, has led to optimistic forecasts about BTC’s future performance, with industry experts anticipating significant growth in the coming months.
Clever Robot News Desk 29th April 2024
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