15,000 Morgan Stanley Brokers Rumoured to Recommend Spot Bitcoin ETFs to Investors
Although there is ‘strong interest’ in these products, the executives are reportedly downplaying the extent of it: “Our clients aren’t betting the ranch on Bitcoin. For most of those people, it’s quite interesting, so they put in a little bit of money.”
Demand for Spot Bitcoin ETFs could soon surge as Morgan Stanley may soon let its 15,000 advisors directly recommend these ETFs to their clients, two senior executives close to the matter said, according to AdvisorHub.
While the multinational investment bank has been allowing access to the ETFs since approval, they have only done so if clients approached them directly. The move would see the brokers pitch the products directly to customers, potentially giving Bitcoin exposure to a whole new range of investors.
According to one executive, Morgan Stanley is still considering how to go about soliciting the fund purchases, including risk management, risk tolerance, trading frequency and allocation limits.
The unnamed executives told AdvisorHub:
“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.”
Although there is ‘strong interest’ in these products, the executives are reportedly downplaying the extent of it:
“Our clients aren’t betting the ranch on Bitcoin. For most of those people, it’s quite interesting, so they put in a little bit of money.”
