Amid the growing excitement surrounding spot Bitcoin ETFs, Wall Street giant Morgan Stanley has reportedly conducted extensive due diligence to include these products in its brokerage platform.
Morgan Stanley Explores Integration of Spot Bitcoin ETFs into Brokerage Platform
Morgan Stanley, a leading U.S. brokerage platform, has been exploring the feasibility of offering spot Bitcoin ETFs to its clients since the Securities and Exchange Commission (SEC) gave the green light to introduce these products in the U.S. in January, two people with knowledge of the matter said. announced that it is actively evaluating it.
Although significant investment has flowed into these products since their inception, industry insiders held back investments until major registered investment advisor (RIA) networks and broker-dealer platforms, including those affiliated with Merrill Lynch, Morgan Stanley, Wells Fargo, and others, began offering Bitcoin ETFs. He suggests that its doors may not open completely.
There are currently ten spot Bitcoin ETFs traded in the US, with notable competitors such as Grayscale's GBTC, BlackRock's IBIT, and Fidelity's FBTC leading the way in terms of assets under management.
However, the specific ETFs being evaluated by Morgan Stanley were not disclosed.
Morgan Stanley declined to provide further details about the evaluation process when reached for comment.
Morgan Stanley, in particular, is at the forefront of alternative investments and the private markets space, with over $150 billion in assets under management.
The banking giant made a splash in 2021 by becoming the first major US bank to offer its wealthy customers access to Bitcoin funds.
During its first quarter earnings call in April 2021, the bank had confirmed that it was providing asset management clients with access to Bitcoin through two external crypto funds.
*This is not investment advice.