Bitcoin ETF

Bitcoin

Zero

Daily

Banking giant Morgan Stanley could soon allow its 15,000 brokers to pitch Bitcoin exchange-traded funds (ETF) to their customers.
According to an AdvisorHub <a href="https://advisorhub.com/morgan-stanley-explores-letting-brokers-recommend-bitcoin-etfs-sources/" target="_blank" rel="noopener noreferrer nofollow">report</a> citing executive sources, the bank has only offered these options on an unsolicited basis, meaning that brokers do not explicitly advise investing in Bitcoin ETF. Customers would have to reach out to their advisors at the brokerages.&nbsp;
As a part of the policy change, the bank is establishing a groundwork for solicited purchases. This will be accompanied by risk tolerance requirements, alongside limits placed on allocation and trading frequency.&nbsp;
“We are going to make sure everybody has access to it. We just want to do it in a controlled way,” one source added, signaling the bank’s cautious approach.
Since the <a href="https://crypto.news/crypto-investment-products-get-1-18b-inflows-amid-spot-bitcoin-etf-launch/" rel="noopener noreferrer nofollow">introduction</a> of <a href="https://crypto.news/tag/bitcoin-etf/" rel="noopener noreferrer nofollow">Bitcoin ETFs</a> in January, major brokerage players like Morgan Stanley, Merrill Lynch, and Wells Fargo have all dipped their toes in this market. However, much like Morgan Stanley, they limited purchases to a non-advisory basis.
You might also like: <a href="https://crypto.news/capital-inflows-into-spot-bitcoin-etfs-total-31m/" rel="noopener noreferrer nofollow"> Capital inflows into spot Bitcoin ETFs total $31m </a>
The recent move from Morgan Stanley is another testament to the growing demand for Bitcoin ETFs among institutional players. According to the second Morgan Stanley executive, this trend has also been seen among their clientele, but Bitcoin is still perceived as a speculative asset.
“For most of those people, it’s quite interesting, so they put in a little bit of money.”
Bitcoin ETFs have brought massive inflows to the cryptocurrency market over the past months. However, the movement seems to be slowing down, with ETF issuer BalckRock <a href="https://crypto.news/blackrock-ibit-etf-logs-first-zero-inflow-day-since-us-bitcoin-etf-launch/" rel="noopener noreferrer nofollow">registering</a> Zero Daily inflow for the first time on April 24.
Other issuers have also seen dwindling performance, with only idelity Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARKB) seeing inflows of of $5.6 million and $4.2 million, respectively. To date, the Bitcoin ETF market in the U.S. has amassed approximately $12.3 billion in Bitcoin
Read more: <a href="https://crypto.news/grayscales-bitcoin-etf-hits-1-6b-outflows-hours-before-halving/" rel="noopener noreferrer nofollow"> Grayscale’s Bitcoin ETF hits $1.6b outflows hours before halving </a>

Morgan Stanley brokers could soon pitch Bitcoin ETFs to clients, insiders say

crypto.news

Other articles published on Apr 25, 2024

Risk of Bitcoin Short Liquidation Skyrockets as BTC Value Slips Below $64K

Altcoin Season Begins! How The Bitcoin Halving Might Affect Solana, XRP, and New Crypto Raboo

Dogecoin Struggles to Maintain Momentum After March Gains; 3 Coins Experts Say DOGE Holders Shoul...

Anti-crypto SEC commissioner’s term is up in 41 days — Will she be replaced?

Significant Shifts in FTX Case and Solana’s Cryptocurrency Dynamics

BNB Price Reclaims $600 and Bulls Could Now Aim For New 2024 High

Join our free newsletter for daily crypto updates!