Bitcoin ETF

Bitcoin

Partner

The Bitcoin investment landscape is set for a major shift as Morgan Stanley, a leading global financial services firm, gears up to launch spot BTC Exchange Traded Funds (ETFs) through its network of 15,000 financial advisors starting tomorrow, August 7. This move, initially <a href="https://bitcoinist.com/morgan-stanley-bitcoin-etfs-2-weeks-insider/" target="_blank" rel="noopener ">reported</a> by CNBC on August 2, marks the first instance of a major Wall Street bank enabling such widespread direct access to Bitcoin investment products. 
<h2 id="why-this-is-huge-for-bitcoin">Why This Is Huge For Bitcoin</h2> 
Following the US Securities and Exchange Commission’s <a href="https://bitcoinist.com/breaking-spot-bitcoin-etfs-approved-by-us-sec/" target="_blank" rel="noopener ">approval</a> of 11 spot BTC ETFs earlier this year, Morgan Stanley’s announcement underscores a progressive acceptance of Bitcoin within mainstream financial services. Starting Wednesday, Morgan Stanley advisors will be allowed to offer shares of <a href="https://bitcoinist.com/blackrocks-etf-overtakes-grayscale/" target="_blank" rel="noopener ">BlackRock’s iShares</a> Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC) to their clients. 
“The Japanese carry trade unwind will fade in to the rearview once Morgan Stanley’s 15,000 financial advisors start putting the BTC ETFs in client portfolios. I can tell that most people don’t really understand what this means yet. The US wealth management business is a beast,” <a href="https://x.com/mikealfred/status/1820625748476203518" target="_blank" rel="noopener nofollow">said</a> Mike Alfred, CEO of Digital Assets Data and Managing Partner at Alpine Fox LP. 
The ETFs will only be available to clients who meet specific criteria including a net worth of at least $1.5 million, a high risk tolerance, and an expressed interest in speculative investments. “This targeted approach ensures that the offering is matched with the risk profile and investment objectives of suitable clients,” a source familiar with the policy stated. 
Haseeb Qureshi, Managing Partner at Dragonfly, <a href="https://x.com/hosseeb/status/1819481290233790656" target="_blank" rel="noopener nofollow">highlighted</a> the change in protocol for private wealth advisors, “This is huge. Currently all of the private wealth advisors are “reverse inquiry only”, meaning they are not allowed to market the BTC ETF to their clients. That’s only now changed.” 
Scott Melker, known online as “The Wolf Of All Streets,” <a href="https://x.com/scottmelker/status/1819861107135406531" target="_blank" rel="noopener nofollow">commented</a> on the implications of this move: ” This move reflects growing client demand and signifies a major step in Bitcoin’s mainstream adoption. Only clients with a net worth of at least $1.5 million, high risk tolerance, and an interest in speculative investments are eligible, and these investments are limited to taxable brokerage accounts.” 
Quinten Francois, a prominent crypto analyst, <a href="https://x.com/QuintenFrancois/status/1819633836793237846" target="_blank" rel="noopener nofollow">underscored</a> the magnitude of this development: “Morgan Stanley will soon allow financial advisors to offer Bitcoin ETFs. Morgan Stanley’s advisors manage $5.7 trillion in client assets, the biggest of the wirehouses.” 
Popular Bitcoin analyst British HODL (@BritishHodl) <a href="https://x.com/BritishHodl/status/1819405016626540773" target="_blank" rel="noopener nofollow">added</a> via X: “Morgan Stanley just changed the advisory game and started the hunger games for advisors, they’re bringing 15,000 hungry, commission driven sales people to the Bitcoin army to attack their $1.46T of assets under management. 
At press time, BTC traded at $54,831. 
<img loading="lazy" decoding="async" class="size-full wp-image-313826" src="https://bitcoinist.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-06_15-15-25.png?resize=1024%2C473" alt="Bitcoin price" width="1024" height="473" srcset="https://bitcoinist.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-06_15-15-25.png?resize=1024%2C473?w=3628 3628w, https://bitcoinist.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-06_15-15-25.png?resize=1024%2C473?w=640 640w, https://bitcoinist.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-06_15-15-25.png?resize=1024%2C473?w=768 768w, https://bitcoinist.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-06_15-15-25.png?resize=1024%2C473?w=980 980w, https://bitcoinist.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-06_15-15-25.png?resize=1024%2C473?w=1536 1536w, https://bitcoinist.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-06_15-15-25.png?resize=1024%2C473?w=2048 2048w, https://bitcoinist.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-06_15-15-25.png?resize=1024%2C473?w=750 750w, https://bitcoinist.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-06_15-15-25.png?resize=1024%2C473?w=1140 1140w, https://bitcoinist.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-06_15-15-25.png?resize=1024%2C473?w=3000 3000w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1">

Bitcoin ETF Blitz: 15,000 Morgan Stanley Advisors Start Tomorrow

Table of Contents

Bitcoinist

Other articles published on Aug 7, 2024

Ronin Bridge Paused After Whitehat Hacker Exposes Vulnerability In $12M Exploit

Should you ‘buy the dip’ on Bitcoin? What THIS key level suggests

BREAKING: $40,000,000,000 Wealth Manager Invests in Bitcoin via Bitwise ETF – BTC Price to $75,000?

Tough week for BNB as price decline sparks record liquidations – What now?

PancakeSwap Launches New Platform For DeFi Quests

Investors Seize Opportunity During Crypto Market Crash

Join our free newsletter for daily crypto updates!