Bitcoin

Giant

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
American multinational investment bank Morgan Stanley could potentially&nbsp;<a href="https://www.advisorhub.com/morgan-stanley-explores-letting-brokers-recommend-bitcoin-etfs-sources/" rel="noopener noreferrer nofollow">allow</a> 15,000 brokers to solicit client purchases for Bitcoin exchange-traded funds, according to a recent report by AdvisorHub, which cites two anonymous senior executives.&nbsp;
So far, the bank has offered them only on an unsolicited basis, which essentially means that advisors do not explicitly recommend investing in Bitcoin ETF.&nbsp;
The rumored policy change, as the report suggests, could substantially boost demand for red-hot Bitcoin ETFs.&nbsp;
One of the executives cited by AdvisorHub says that the banking giant is cautious about allowing thousands of its brokers to solicit client purchases for Bitcoin ETFs, which is why they are working on setting up some guardrails such as allocation limits. The brokers will also have to take into account such factors as risk tolerance. Morgan Stanley wants clients to invest in these products in a "controlled way."
Other major players, such as Wells Fargo, remain mum about potential plans to introduce solicited purchases.&nbsp;
Meanwhile, there are some troubling signs that demand for Bitcoin ETFs could be waning.&nbsp;&nbsp;
As&nbsp;<a href="https://u.today/blackrocks-bitcoin-etf-ends-inflow-streak-as-btc-price-plunges" rel="noopener noreferrer nofollow">reported by U.Today</a>, Bitcoin ETFs&nbsp;recorded $120 million worth of outflows on Wednesday.&nbsp;
The price of Bitcoin, the top cryptocurrency, has now slipped back below the $64,000 level.&nbsp;

Banking Giant Morgan Stanley Considers Allowing Solicited Purchases for Bitcoin ETFs

U_Today

Other articles published on Apr 25, 2024

Hidden Crypto Gem Quietly Growing TVL While Rewarding Users With USDC

SpaceN (SN) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

BONK Price Prediction: Can Bonk Price Lead The Solana Memecoin Rally?

Shiba Inu’s Resurgence and Its Leap into DeFi with a $12 Million Investment Fuel a Bullish Market...

LBank Exchange listed Spongebob Squarepants (SPONGEBOB) on April 24, 2024

Biden’s 44.6% capital gains tax proposal likely a ‘nothing burger’

Join our free newsletter for daily crypto updates!