Morgan Stanley is set to expand its bitcoin strategy by enabling its 15,000 brokers to actively recommend bitcoin exchange-traded funds (ETFs) to their clients, signaling a significant shift in the firm's approach to cryptocurrency investments.
In an ambitious stride, Morgan Stanley is setting the stage to expand its Bitcoin exchange-traded funds (ETFs) offerings significantly. According to the latest report, the financial behemoth is poised to permit its approximately 15,000 brokers to recommend Bitcoin ETFs to clients proactively.
American multinational investment bank Morgan Stanley could potentially allow 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.
The move may bring fresh energy and capital into the spot ETFs.
The brokerage firm is laying out risk managing requirements for solicited purchases of Bitcoin ETFs, AdvisorHub reported.
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