Bitcoin ETF

Bitcoin

<p class="is-style-lead">Morgan Stanley has become the first major Wall Street bank to allow its financial advisors to advise Bitcoin ETF investments.&nbsp;</p>
<p>Morgan Stanley will now allow its financial advisors to offer Bitcoin (<a href="https://crypto.news/price/bitcoin/" data-type="link" data-id="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) ETFs to eligible clients starting August 7, according to <a href="https://www.cnbc.com/2024/08/02/morgan-stanley-wealth-advisors-bitcoin-etfs.html#:~:text=The%20firm's%2015%2C000%20or%20so,Bitcoin%20Fund%2C%20the%20people%20said." target="_blank" rel="noopener noreferrer nofollow">reporting</a> by CNBC, making it the first major Wall Street bank to do so,</p>
<p>Morgan Stanley has nearly 1500 advisors who can now solicit clients to purchase shares of BlackRock’s <a href="https://crypto.news/blackrock-reveals-large-bitcoin-etf-stake-with-43000-shares/" data-type="link" data-id="https://crypto.news/blackrock-reveals-large-bitcoin-etf-stake-with-43000-shares/" target="_blank" rel="noopener noreferrer nofollow">iShares Bitcoin Trust</a> and Fidelity’s <a href="https://crypto.news/fidelitys-wise-origin-bitcoin-index-fund-surpasses-100m-mark/" data-type="link" data-id="https://crypto.news/fidelitys-wise-origin-bitcoin-index-fund-surpasses-100m-mark/" target="_blank" rel="noopener noreferrer nofollow">Wise Origin Bitcoin Fund</a>. This follows the SEC’s <a href="https://crypto.news/sec-approves-spot-bitcoin-etf-on-accelerated-basis/" data-type="link" data-id="https://crypto.news/sec-approves-spot-bitcoin-etf-on-accelerated-basis/" target="_blank" rel="noopener noreferrer nofollow">approval</a> of 11 spot Bitcoin ETFs in January.&nbsp;</p>
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   <p lang="en" dir="ltr">5 years ago I was talking to a Morgan Stanley financial advisor who was laughing at me about crypto. I told him the day would come when he was selling crypto and the only reason he wasn’t was because he didn’t have a way to get paid for it. Who’s laughing now? <a href="https://t.co/lmVFRIMJ7e" target="_blank" rel="noopener noreferrer nofollow">https://t.co/lmVFRIMJ7e</a></p>— Digital Asset Investor (@digitalassetbuy) <a href="https://twitter.com/digitalassetbuy/status/1819380600794431908?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 2, 2024</a>
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<p>Only clients with a net worth of at least $1.5 million, an aggressive risk tolerance, and a desire to make speculative investments are suitable for Bitcoin ETF solicitation. The investments are for taxable brokerage accounts, not retirement accounts.</p>
<p>You might also like: <a href="https://crypto.news/michigan-adds-6-6m-in-bitcoin-etfs-to-pension-fund/" rel="noopener noreferrer nofollow"> Michigan adds $6.6m in Bitcoin ETFs to pension fund </a></p>
<h2 class="wp-block-heading" id="why-does-this-matter">Why does this matter?</h2>
<p>This move allows financial advisors to offer Bitcoin ETFs to eligible clients, signaling broader retail Bitcoin adoption. It means more investors are gaining exposure to crypto, and Morgan Stanley is making Bitcoin more accessible to an affluent audience, boosting demand.</p>
<p>“15000 of the best compensated sales people in the world who will harvest the richest families and institutions in the world and put them into Bitcoin. I predict $3 trillion market cap inbound to Bitcoin in under 18 months!” <a href="https://x.com/GaryCardone/status/1819384517062181035" data-type="link" data-id="https://x.com/GaryCardone/status/1819384517062181035" target="_blank" rel="noopener noreferrer nofollow">posted</a> investor Gary Cardone on X (fromerly Twitter) in reference to the news.</p>
<p>A <a href="https://crypto.news/standard-chartered-xrp-etf-next/" rel="noopener noreferrer nofollow">spot crypto ETF</a> tracks the price of a specific crypto and invests portfolio funds into that crypto. These funds are traded on public exchanges but generally track a particular crypto.&nbsp;</p>
<p>Like similar funds, crypto ETFs are on regular stock exchanges, and investors can keep them in their standard brokerage accounts. Bitcoin ETFs allow investors to gain exposure to Bitcoin without directly holding the crypto.</p>
<p>You might also like: <a href="https://crypto.news/bitcoin-price-spared-from-intel-and-nvidia-stocks-meltdown/" rel="noopener noreferrer nofollow"> Bitcoin price spared from Intel and Nvidia stocks meltdown </a></p>

Morgan Stanley to allow advisors to offer Bitcoin ETF investments

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