Here’s When Morgan Stanley’s Wealthy Clients Will Get Access to Bitcoin ETFs: Report

Bitcoin continues to capture the world’s attention and increase its adoption levels, especially through the exchange-traded funds that track its performance.

According to the latest major news about the first ETF line, Morgan Stanley informed its financial advisors that they will be able to offer two Bitcoin ETFs to wealthy clients.

Recall that the US Securities and Exchange Commission gave the green light to 11 specific Bitcoin ETFs earlier this year. Since then, the products have collectively accumulated just under $18 billion in assets under management from different types of investors, including institutions such as pension funds.

Morgan Stanley, a US banking giant that has shown strong support for the industry in recent years, is the latest to join the ETF scene.

According to a CNBC report, the Wall Street behemoth has informed its 15,000 financial advisors that they may begin offering certain clients the opportunity to invest in two spot Bitcoin ETFs starting August 7.

That is, Morgan Stanley has chosen two of the largest financial vehicles: BlackRock’s IBIT (with just over $20 billion in AUM) and Fidelity’s FBTC (with nearly $10 billion in AUM).

The report says Morgan Stanley’s decision came after growing demand from clients seeking exposure to the world’s largest cryptocurrency through SEC-approved ETFs.

However, BTC offers will only be available to a certain cohort of investors; their net worth must be around $1.5 million, they must have “an aggressive risk tolerance and a desire to make speculative investments.”

It is worth noting that Morgan Stanley has also allocated funds in Bitcoin ETFs. As reported in May, the bank had invested $269 million in Grayscale’s GBTC.

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