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Morgan Stanley, a prominent player on Wall Street, is reportedly in the process of conducting thorough due diligence to potentially introduce spot bitcoin ETF products to its brokerage platform. According to sources familiar with the matter, the firm has been actively considering the feasibility of offering these products to its clients ever since the Securities and Exchange Commission (SEC) gave its approval for their introduction in the United States in January.
However, despite the widespread interest and substantial investments in these products, the full-scale adoption of bitcoin ETFs may hinge on their availability through major registered investment advisor (RIA) networks and broker-dealer platforms, including those associated with firms like Merrill Lynch, Wells Fargo, and others.
At present, there are 10 spot bitcoin ETFs actively trading in the U.S. market. Notable examples include Grayscale's GBTC, BlackRock's IBIT, and Fidelity's FBTC, among others. While Morgan Stanley is reportedly exploring the possibility of offering these ETFs to its clients, the specific funds under consideration have not been disclosed.
Morgan Stanley has been a significant player in the alternative investments and private market sector, managing assets exceeding $150 billion. Notably, in 2021, the firm took an early lead by becoming the first major U.S. bank to provide its affluent clients with access to bitcoin funds. During its first-quarter earnings call in April 2021, Morgan Stanley confirmed that it was offering exposure to bitcoin through external crypto funds to its wealth management clients. Former CFO Jonathan Pruzan revealed that the bank was facilitating access to two passive funds, believed to be offered by Galaxy Digital and NYDIG. Despite inquiries, Morgan Stanley has chosen not to comment on its current plans regarding bitcoin ETFs.
By fLEXI tEAM
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