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A recent report revealed Morgan Stanley’s plans to explore the expanding Bitcoin exchange-traded funds (ETFs) market. The firm reportedly plans to allow its 15,000 brokers to encourage customers to purchase Bitcoin ETFs.
Two senior executives familiar with the matter shared insights on the company’s plans to establish “guardrails” for solicited purchases. The firm plans to implement risk tolerance requirements and limits on allocation and trading frequency. Though neither of the executives revealed the exact timeframe for the company’s policy changes, one of the executives stated,
“We’re going to make sure that we’re very careful about it. We are going to make sure everybody has access to it. We just want to do it in a controlled way.”
The second executive stated that the customers have shown strong interest in purchasing Bitcoin ETFs. He added that the investors invest money in ETFs as it seems interesting to them. He added, “Our clients aren’t betting the ranch on Bitcoin.”
Other financial firms like Bank of America’s Merill Lynch, Wells Fargo, and Cetera Financial Group have also introduced Bitcoin ETFs. Matt Fries, Head of Investment Products at Cetera, posited,
“We will continue to proactively evaluate the implications of Bitcoin ETFs and related products and modify our policies accordingly, and we look forward to partnering with our financial professionals to adopt Bitcoin ETFs when appropriate with their clients.”
As of Wednesday, the net inflow of the US Spot Bitcoin ETFs from leading asset managers like BlackRock, Ark Invest, and Grayscale has reached a massive $12.29 billion. In addition, they have amassed over $53.6 billion in assets under management (AuM).
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