Morgan Stanley Brokers May Recommend Bitcoin ETFs
According to a report from AdvisorHub on Thursday, citing two senior executive sources familiar with the company’s plans, Morgan Stanley may soon allow its 15,000 brokers to suggest that customers invest in spot Bitcoin exchange-traded funds.
The company is reportedly laying the groundwork for having its brokers recommend these investments, which will include assessing the customers’ risk tolerance and setting limits on how much they can allocate and how often they can trade.
However, the sources were not able to give a specific timeline for when this policy change will take place, according to AdvisorHub.
Since their launch in January, major brokerage firms such as Morgan Stanley, Merrill Lynch, and Wells Fargo have offered spot Bitcoin ETFs, but only on an unsolicited basis, meaning customers would have to reach out to their advisors to make a purchase.
