Morgan Stanley Evaluating Spot Bitcoin ETFs for Its Giant Brokerage Platform: Sources
Summary
Morgan Stanley is conducting due diligence to add spot bitcoin ETF products to its brokerage platform. The firm has been considering this move since the Securities and Exchange Commission approved the introduction of spot bitcoin ETFs in the U.S. in January. Currently, there are 10 spot bitcoin ETFs trading in the U.S., with the most assets held by Grayscale's GBTC, BlackRock's IBIT, and Fidelity's FBTC. Morgan Stanley, which manages over $150 billion in assets, was the first major U.S. bank to offer its wealthy clients access to bitcoin funds in 2021. The bank provided exposure to bitcoin through two external crypto funds offered by Galaxy Digital and NYDIG.
